Bandhan Bank’s Rs 4,500 crore initial public offering (IPO) opened on Thursday (March 15) and will close on March 19. Bandhan Bank will sell 119.28 million equity shares, comprising a fresh issue of up to 97.66 million equity shares, and an offer for sale (OFS) of up to 14.05 million equity shares by IFC, and up to 7.5 million equity shares by IFC FIG. The equity shares will be listed on BSE and NSE. Bandhan Banks gross NPA to gross advances (excluding IBPC/Assignment) is 0.51 per cent. Bandhan Bank was incorporated on December 23, 2014 and began operations on August 23, 2015 when Bandhan Financial Services Limited (BFSL), parent company, transferred its entire microfinance business to Bandhan Bank, comprising 6.77 million customers and Rs 77,687 million of advances, and it simultaneously commenced general banking activities.
