Standard Chartered Bank PLC has announced its price band for its forthcoming IDR. The price band proposed is Rs 100-115 with a discount of 5% for retail investors. The minimum bid amount for the issue is 200 shares and the lot size thereafter is in multiple of 50 shares.

I believe the price band has been extended on both sides so as to capture the market volatility that may happen in the next three to four days before the issue closes on Friday the 28th of May. It may be mentioned that Thursday the 27th of May is a bank holiday and would therefore be a bidding holiday and no bids could be made on that day. Investors will take a final call on this issue depending upon how the markets behave in the next four days.

The price band does not change the fundamentals of the issue except that closing price of Standard Chartered Bank PLC in London would become crucial on Thursday.

I believe that the issue is attractive and should be subscribed to.