Bandhan Bank's Rs 45 billion IPO to open for subscription next week

At IPO price, the microfinance-focused bank is valued at nearly Rs 450 billion

Kolkata-based Bandhan Bank Rs 45-billion initial public offering (IPO) will remain open for subscription between March 15 and March 19. The microfinance-focused bank will issue fresh shares worth Rs 37 billion in the IPO. The offering also comprises of Rs 8 billion worth secondary share sale by the International Finance Corporation (IFC), an investment arm of the World Bank. The price band for the IPO has been fixed at Rs 370 to Rs 375 per share. At the top end of the price band, Bandhan Bank will be valued at nearly Rs 450 billion, making it the eight most valuable