Micro finance organisation-turned universal bank, Bandhan Bank’s initial public offer will be open from Thursday, March 15 through Monday, March 19. The IPO consists of a fresh issue of 9.76 crore shares, and an offer for sale of up to 2.16 crore shares by existing investors International Finance Corporation (IFC), and IFC FIG Investment Company, according to Press Trust of India. Along with Bharat Dynamics, whose IPO closes today, and Hindustan Aeronautics Limited (HAL), with its IPO starting on March 16, the three companies are together looking to raise over ₹9000 crore. Here’s what you need to know:
Bandhan Bank
Chandra Shekhar Ghosh’s Bandhan Bank opened its initial public offer on Thursday, to raise an expected amount of ₹4,473 crore, making it the biggest banking sector IPO till date. Bandhan Bank is the first instance in India of a micro-finance entity transforming into a universal bank.
| Read: Bandhan Bank IPO today: Invest for the long-term, decent listing gains unlikely, brokerages say
Issue start date: March 15, 2018
Issue end date: March 19 , 2018
Issue size: 11.93 crore equity shares
Price band: ₹370.00- ₹375.00
Bharat Dynamics
The other big IPO to hit the D-street this week is the Hyderabad-based manufacturer of guided weapon systems, Bharat Dynamics Limited. The company is an Indian government enterprise, established under the administrative control of the Ministry of Defence in 1970, according to the company’s official website.
The Bharat Dynamics share sale is a pure offer for sale that will see the Indian govt sell a total of 21.99 million shares, representing a stake dilution of about 12%.The offer is expected to raise close to Rs. 600 crore, according to this report.
{{/usCountry}}The Bharat Dynamics share sale is a pure offer for sale that will see the Indian govt sell a total of 21.99 million shares, representing a stake dilution of about 12%.The offer is expected to raise close to Rs. 600 crore, according to this report.
{{/usCountry}}Issue start date: March 13, 2018
Issue end date: March 15, 2018
Issue size: 2.24 crore equity shares
Price band: ₹413.00- ₹428.00, at a discount of Rs.10 offered to both retail individual bidders and on the portion reserved for employees.
Hindustan Aeronautics Limited
Hindustan Aeronautics Limited’s public issue opens on March 16, as the company looks to raise ₹4,230 crore, to help the government divest upto 20.20% of its stake in the firm. HAL is placed in the Maharatna category of public sector enterprises, and is the 29th largest aerospace company in the world, according to PTI. More on the issue here.
Issue start date: March 16, 2018
Issue end date: March 20, 2018
Issue size: 3.34 crore equity shares
Price band: ₹1215.00- ₹1240.00, at a discount of ₹25 per equity share on the offer price for retail individual bidders and eligible employees.
Source: BSE