ALSO READBandhan Bank appoints Goldman Sachs, JP Morgan as lead managers for IPO Goldman Sachs' 'secret' SunEdison loan at centre of KKR suit Bandhan appoints five merchant bankers for IPO Bandhan, IDFC chart divergent paths in banking Listed firms get a breather as Sebi defers order on loan default intimation
"We are required to come out with the IPO not for money, but to meet regulatory compliance. The size and timing of the IPO will be decided on a later course", MD and CEO of Bandhan Bank Chandra Shekhar Ghosh said.
Ghosh said although the bank had appointed investment bankers to work out on the modalities of the IPO, likely to hit the capital market by August next year.
The present shareholders of Bandhan Bank, SIDBI, IFC and GIC of the Singaporean government were likely to take part in the maiden offering.
The bank had appointed Goldman Sachs, JP Morgan Chase and three others as investment bankers for the IPO.