Bandhan Bank appoints merchant bankers for IPO

Bandhan Bank, which is the first Indian microfinance lender to get a banking license from the RBI, is getting ready to launch its initial public offering to raise approximately Rs 5,000 crore, reported a leading news daily.

Backed by Singapore sovereign fund GIC Pte, Bandhan Bank has chosen Goldman Sachs Group Inc. and JPMorgan Chase & Co to advise the lender on stake sale, the report said.

The report also stated that Axis Bank Limited, JM Financial Limited and Kotak Mahindra Bank Limited too are working on the lender’s initial public offering.

The Kolkata-based bank was started as a microfinance company in the year 2001 and later converted into a bank in 2015. The bank’s IPO is likely to hit the market in 2018. The report also cited that the investors will be offered about 10% stake in the bank through the IPO.

Bandhan Bank, headed by CEO Chandra Shekhar Ghosh, has 841 branches and over 11 million customers with investors such as the World Bank’s International Finance Corporation. The company has a loan book of about Rs 21,900 crore.


Comments

Post a Comment

Popular posts from this blog

Opening Bell - Markets open higher; Eicher Motors top Nifty gainer

Image
At 9:15 AM, the BSE Sensex opened higher by 32 points at 31,694, while the Nifty50 opened higher by 28 points at 9,958 mark.   Eicher Motors is top Nifty gainer trading at Rs 33,271.65 per share, up by 1.25% and Tata Power is top Nifty loser trading at Rs 77.05 per share, down by 0.39%. There are 957 advances, 424 declines and 459 unchanged stocks on NSE reflecting mixed sentiments floating in the market.   On the broader markets, BSE Mid-cap index is trading at 15,846 level, up by 0.15% while BSE Small-cap index is trading at 16,384 level, up by 0.28%.   The rupee opened at 63.88 per USD. The tech-heavy Nasdaq Composite index ended at 6,398, up by 5 points, whereas the Dow Jones Industrial Average dipped 23 points to close at 21,785 and the S&P ended flat with a negative bias.   A majority of the Asian stock indices were trading in the positive territory in early trade on Friday. Hong Kong's Hang Seng has risen 0.46% and China’s Shanghai Composite has gai...
Read more

Markets off day's high in late trades

Image
        0 Markets off day's high in late trades as indices fail to hold on to intraday gains. The 10,000 psychological mark is proving to act as a strong resistance zone for the Nifty. Bank Nifty too has lost ground; crucial support is now seen around 23,600 zone for Bank Nifty. Trump’s protectionist policies leading to the trade war scenario between US and China has negatively impacted major Asian indices. BSE Sensex toppled over 1% losing 400 points in the afternoon trade and is holding at 32,607. Nifty50 was down 121 points at 9,992. Barring IT sector being marginally up, all sectoral indices are in the red on BSE Sensex. The impact of steel and aluminium import tariffs imposed by US further led to the downfall of Metal index, as it slips over 3% on BSE Sensex. Vedanta, Hindalco and Tata Steel have majorly dragged the index down by ~313 points out of 425 points cumulatively. 2 million shares of SAIL have been traded with the stock ...
Read more

Opening Bell - Markets open higher

Image
At 9:15 AM, the BSE Sensex opened higher by 77 points at 31,738, while the Nifty50 opened higher by 29 points at 9,945 mark. Indiabulls Housing Finance was top Nifty gainer trading at Rs 1,288.2 per share, up by 1.89% while Bharti Infratel was top Nifty loser trading at Rs 370.3 per share, down by 0.3%. There were 1,034 advances, 374 declines and 424 unchanged stocks on NSE reflecting strong positive sentiments floating in the market. ITC, HDFC Bank and ICICI Bank are among the top contributors to the gains of Nifty and Sensex in the morning hours. Nifty50 has immediate resistance placed at the level of 9,940, followed by 9,980-10,000, and if it sustains above these levels, it may move higher up to the level of 10,080. The rupee opened at 64.03 per USD as compared to the previous closing price of 64.09 per USD. The Dow Jones Industrial Average rose 54 points to finish at 21,808. The Nasdaq Composite Index advanced 18 points to close at 6,393. The S&P 50...
Read more