By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
Bandhan Bank Limited (the “Bank”) has filed a Draft Red Herring Prospectus (“DRHP”) with the Securities and Exchange Board of India (“SEBI”) for its proposed initial public offering (“IPO”) of up to 119,280,494 equity shares of face value of ₹10 each (the “Equity Shares”) for cash at a price per equity share (including a share premium per equity share) to be determined through a book building process (the “Issue”).
The IPO consists of a fresh issue of up to 97,663,910 equity shares and an offer for sale of up to 14,050,780 equity shares by International Finance Corporation (“IFC”); and up to 7,565,804 equity shares by IFC FIG Investment Company ɪ.
The equity shares are proposed to be listed on BSE and NSE.
The book running lead managers to the Issue are Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Institutional Securities Limited and J.P. Morgan India Private Limited.
The Issue is being made through the book building process, in compliance with Regulation 26(1), the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, wherein not more than 50% of the issue shall be allocated on a proportionate basis to qualified institutional buyers (“QIBs”) (the “QIB Portion”), provided that the bank, in consultation with the book running lead managers and with intimation to the selling shareholders, may allocate up to 60% of the QIB portion to anchor investors on a discretionary basis (“Anchor Investor Portion’’).
At least one-third of the anchor investor portion shall be reserved for domestic mutual funds, subject to valid bids being received from domestic mutual funds at or above anchor investor allocation price. In the event of under-subscription, or non-allocation in the anchor investor portion, the balance equity shares shall be added to the QIB portion.
Of the QIB portion, 5% shall be available for allocation on a proportionate basis to mutual funds only, and the remaining QIB portion shall be available for allocation on a proportionate basis to all QIB bidders (other than anchor investors), including mutual funds, subject to valid bids being received at or above the Issue price.
Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to non-institutional bidders and not less than 35% of the issue shall be available for allocation to retail individual bidders in accordance with the SEBI ICDR Regulations, subject to valid bids being received at or higher than Issue price.
Bandhan Bank Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (the “DRHP”) with the Securities and Exchange Board of India (“SEBI”). The DRHP is available on the website of the SEBI at www.sebi.gov.in as well as on the websites of the Book Running Lead Managers, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Goldman Sachs (India) Securities Private Limited, JM Financial Institutional Securities Limited and J.P. Morgan India Private Limited, respectively. Investors should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see the section “Risk Factors” of the DRHP. Investors should not rely on the DRHP for any investment decision.”
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