Bandhan Bank IPO
Bandhan Bank IPO — date, price band, lot size & details 2018
Bandhan Bank listed on 27 Mar 2018 at ₹499, 33.1% above the ₹375 issue price.
Bandhan Bank is a Kolkata based commercial bank focused on micro banking and general banking, with a pan India licence. Its total income was Rs 2,306.96 crore in FY2017.
Stock price
Bandhan Bank is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 14 November.
- Open 15 Mar 2018
- Close 19 Mar 2018
- Allotment 22 Mar 2018
- Refund/credit 23 Mar 2018
- Listing 27 Mar 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 15 to 19 Mar, 2018 |
|---|---|
| Price Band | ₹370 – ₹375 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹4473.02 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE, NSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 15,000 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹375 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹15,000 |
| Retail (max) | 13 | 520 | ₹1,95,000 |
| S-HNI (min) | 14 | 560 | ₹2,10,000 |
| S-HNI (max) | 66 | 2,640 | ₹9,90,000 |
| B-HNI (min) | 67 | 2,680 | ₹10,05,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Profit after tax rose from Rs 240.74 crore in FY2015 to Rs 589.51 crore in FY2017, and was Rs 657.65 crore in six months to September 2017.
- 02Total borrowing fell from Rs 3,051.65 crore in FY2015 to Rs 805.82 crore on 30 September 2017, as deposits grew.
- 03Net worth rose from Rs 3,334.50 crore in FY2015 to Rs 5,104.11 crore on 30 September 2017.
- 04Rs 3,584.79 crore of the issue was to augment Tier I capital.
Risks · 5
- 01Its micro banking loans are small and unsecured, so credit costs can jump in a shock; total assets were Rs 32,402.84 crore.
- 02Microfinance borrowers are exposed to local shocks and loan waivers; total income was Rs 2,618.08 crore in six months to September 2017.
- 03As a young bank set up in 2014, it must meet RBI rules on promoter holding and branch spread.
- 04Rs 810.62 crore of the issue went to selling shareholders.
- 05Promoters held 89.62% before the issue and 82.28% after it, and must cut this over time under RBI rules.
Three years of numbers
All figures in ₹ crore, as reported in the Bandhan Bank offer document.
| Metric | 30 Sep 2017 | 31 Mar 2017 | 31 Mar 2016 | 31 Mar 2015 |
|---|---|---|---|---|
| Assets | 32,402.84 | 30,236.09 | 24,471.56 | 19,756.50 |
| Total Income | 2,618.08 | 2,306.96 | 2,013.16 | 1,434.08 |
| Profit After Tax | 657.65 | 589.51 | 522.44 | 240.74 |
| NET Worth | 5,104.11 | 4,446.46 | 3,856.94 | 3,334.50 |
| Reserves and Surplus | 4,008.97 | 3,351.31 | 2,761.80 | 2,239.36 |
| Total Borrowing | 805.82 | 1,028.94 | 1,829.55 | 3,051.65 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
₹3,584.79 Cr of the issue is earmarked to named objects.
Bandhan Bank IPO Anchor Investors
92 anchor investors across 26 fund houses committed ₹1,341.86 Cr a day before the issue opened.
Anchor investors bid a day before the issue opens and are locked in after allotment, so a book weighted towards domestic mutual funds is generally read as a stronger signal than one filled by short-horizon funds. Browse every anchor investor scheme or fund house we track.
About the company
It has a licence to provide banking services across India to all customer segments.
It offers asset and liability products for micro banking and general banking, as well as other banking services.
The IPO was Rs 4,473.02 crore, with Rs 3,662.40 crore of fresh issue and Rs 810.62 crore of offer for sale, at Rs 375, the top of the Rs 370 to Rs 375 band. The fresh money was to augment its Tier I capital.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Bandhan Bank IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Financial Ltd.
172 issues handledBest listing: Tata Technologies (+140.0%). Weakest: ACME Solar Holdings (-13.1%).
Axis Capital
255 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
Kotak Mahindra Capital Company Limited
204 issues handledBest listing: Premier Energies (+120.0%). Weakest: Puravankara Projects (-22.5%).
Goldman Sachs (India) Securities Private Limited
19 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: Paytm (-9.3%).
JP Morgan India Pvt. Ltd
41 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Bandhan Bank?
The current Grey Market Premium is ₹32.5, or 9% over the issue price.
What is the Bandhan Bank IPO price band?
₹370 to ₹375, on a face value of ₹10.
When is the allotment?
The basis of allotment is 22 March 2018, with listing on 27 March 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
