The Rs 4,473 crore IPO received bids for over 122.16 crore equity shares against the offer size of over 8.34 crore shares.
The reserved portion of qualified institutional buyers (QIBs) has oversubscribed 38.67 times while the portion for non-institutional investors witnessed subscription of 13.89 times and retail 1.20 times.
"We have received good response from QIBs and high net worth individuals. Apart from this, we have received nearly 11 lakh applications from retail investors, which is commendable," the bank's MD and CEO Chandra Shekhar Ghosh told IANS.
The bank had set a price band of Rs 370 to Rs 375 per equity share of face value Rs 10 each and of the total issue size of over 11.92 crore shares, offered fresh equity shares to the tune of 9.76 crore and an offer for sale of up to 1.40 crore shares by the International Finance Corporation (IFC) and 75.65 lakh shares by IFC FIG Investment Company.
The Kolkata-based lender planned at raising upto Rs 4,473 crore at the higher price band of Rs 375 per share.
Of the total size, it allocated over 3.57 crore equity shares at a price of Rs 375 a piece aggregating to Rs 1,341.91 crore to 65 anchor investors.
The bank will not receive any proceeds from the offer for sale.
The book running lead managers to the issue were 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 equity shares are proposed to be listed both on the BSE and the NSE.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
This website uses cookies.