New Delhi: Bandhan Bank’s 4,473 crore initial public offering (IPO) saw a subscription of 42% on the first day of bidding on Thursday.

The portion of shares reserved for institutional investors in the Bandhan Bank IPO was subscribed 1.26 times, while those for retail investors and high net-worth individuals (HNIs) saw a subscription of 12% and 1%, respectively. The Bandhan Bank IPO received bids for 35,005,200 shares against the total issue size of 83,496,347 shares, NSE data showed.

On Wednesday, Kolkata-based Bandhan Bank raised Rs1,342 crore from anchor investors and is looking to raise a total amount of Rs4,473 crore from the public issue of its shares.

The Bandhan Bank IPO is of up to 119,280,494 shares comprising fresh issue of up to 97,663,910 and an offer for sale of up to 21,616,584 shares, including anchor portion of 35,784,147 shares.

The issue, which will close on 19 March, is in a price band of Rs370-375 per share.

Kotak Mahindra Capital Co. Ltd, Axis Capital Ltd, Goldman Sachs (India) Securities, JM Financial and JP Morgan India are managing the Bandhan Bank IPO.

The equity shares are proposed to be listed on BSE and NSE.

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