Bandhan Bank IPO subscribed 88% on second day of three-day bidding

Kolkata-based Bandhan Bank on Wednesday raised Rs 13.42 billion from anchor investors and is looking to raise a total amount of Rs 44.73 bn from the public issue of its shares

Bandhan Bank's initial public offering (IPO) was subscribed 88 per cent on the second day of the three-day bidding on Friday.

The IPO to raise Rs 44.73 billion received bids for 73,614,520 shares against the total issue size of 83,496,347 shares, data available with the National Stock Exchange (NSE) till 1700 hrs showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 2.33 times, non institutional investors 24 per cent and retail investors 33 per cent.
 

Kolkata-based Bandhan Bank on Wednesday raised Rs 13.42 billion from anchor investors and is looking to raise a total amount of Rs 44.73 billion