The simultaneous fresh issue and offer for sale from Bandhan Bank was subscribed over 14 times and received excellent response from all stakeholders. The company had tapped the capital markets with its fresh issue of 9,76,63,910 new shares and an offer for sale of 1,40,50,780 shares. The price band was Rs 370-375.

The company had earlier allotted 3,57,84,147 shares to 65 anchor investors comprising of 94 entities. The issue had opened on Thursday the 15th of March and closed on Monday the 19th of March.

The issue was subscribed 38.67 times by QIB’s, 13.89 times by HNI’s and 1.20 times by retail. There were 10,81,506 applications received in the issue. On the basis of number of applications received the issue is subscribed 1.03 times in the retail category.

The cost of funding for the leveraged investor is about 43 paisa per time or Rs 6 per share. Initial indications suggest that the unofficial market is quoting around 4 times this cost, suggesting that the HNI would make a killing. It’s a different thing that grey market premiums have a habit of changing dramatically when share lists.

The full details of the subscription are given below: –