Bandhan Bank lists at more than 30 per cent premium
Following the biggest IPO for an Indian bank, Bandhan Bank got listed on the exchanges on Tuesday. The stock opened at Rs. 485.00 per share on BSE Sensex and at Rs. 499 per share on NSE.
The equity shares of the bank were listed under Scrip Code 541153 under 'B' Group securities on the exchanges.
Bandhan Bank's IPO received an overwhelming response from both institutional and retail investors. The overall IPO was subscribed 14.63 times, while its QIBs portion was subscribed 38.67 times. The price band of the IPO was Rs. 370-375 per equity share.
At closing, the stock of Bandhan Bank was quoting Rs. 477.20 per share, which is Rs. 102.20 or 27.25 per cent higher compared to its issue price of Rs. 375, while Rs. 7.80 or 1.61 per cent below its listing price.
On its debut day, the stock hit a high of Rs. 498.40 per share and a low of Rs. 455.00 on BSE Sensex. Bandhan Bank's debut was helped by positive market sentiments. BSE Sensex closed at 33,174.39, up 107.98 points or 0.33 per cent on Tuesday.