Bandhan Bank's Rs 45-bn IPO subscribed 14.6 times on last day of offer

The price band for the IPO has been fixed at Rs 370 to Rs 375 per share

Bandhan Bank's initial public offering (IPO), one of the biggest by a domestic bank, saw over 14 times demand the shares on offer. Despite weak secondary market conditions, the offering generated demand worth Rs 245 billion as against Rs 31 billion worth of shares on offer.

The Kolkata-based lender had already raised Rs 13.4 billion for its Rs 45-billion IPO from anchor investors. Bulk of the demand in the IPO came from institutional investors. The so-called qualified institutional buyer (QIB) portion of the issue was subscribed 39 times. The non-institutional investor portion, commonly referred to as high-networth individual (HNI)