NDTV Profit Team
| Thursday March 15, 2018
Bandhan Bank's Rs 4,500 crore initial public offering (IPO) opened on Thursday (March 15) and closed on March 19. The bank sold 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. Bandhan Bank has 840 branches and 282 ATMs. Its CASA ratio is 29.4 per cent. The bank has deposits to the tune of Rs 23,230 crore, and they grew at the rate of 92.2 per cent. "Bandhan Bank provides attractive and profitable expansion opportunities. It's extensive, low cost distribution network with enhancement in digital platform to improve customer acquisition and retention would add to its future business potentials," said AUM Capital. Keeping these factors in mind, AUM Capital recommended shareholders to subscribe the issue for medium to long term perspective.