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Bandhan Bank shares soar on stock market debut, list at 33% premium
The bank’s shares listed at Rs 499 on the National Stock Exchange, 33% higher than its issue price of Rs 375. At 10.40 am, the shares were trading 23.75% or 89.05 points higher at Rs 464.05.
Updated on: Mar 27, 2018, 10:52:16 IST
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Shares of the microfinance institution-turned-universal bank Bandhan Bank Ltd rose as much as 33% in their trading debut on Tuesday after its Rs 4,473 crore initial public offering (IPO).
The bank’s shares listed at Rs 499 on the National Stock Exchange, 33% higher than its issue price of Rs 375. At 10.40 am, the shares were trading 23.75% or 89.05 points higher at Rs 464.05.
Bandhan Bank’s initial public offer, the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors.
