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.

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).

Bandhan Bank’s initial public offer was subscribed nearly 15 times. (Reuters File Photo)

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.