The underlying open offer (IPO) of Bandhan Bank was oversubscribed 14.56 times, evoking the great reaction from QIP and HNI financial specialists, the best authority of the bank said.

Yesterday was the last date of the offer.

MD and CEO of Bandhan Bank Chandra Shekhar Ghosh told that oversubscription by virtue of QIP was 38.67 times and that of HNI financial specialists was 13.89 times.

The value band had been settled between Rs 370 and Rs 375 for every offer, with a face estimation of Rs 10 each to raise Rs 4,500 crore.

The whole continues of the offer would be used for capital prerequisites.

Retail oversubscription was 1.05 times which will rise further and applications got on this tally was roughly 10 lakh, Ghosh said.

“This was a magnificent reaction from the contributing open. The accomplishment of the issue demonstrated the general population has acknowledged the Bandhan Bank show,” Ghosh said.

Kotak Mahindra Capital, JM Financial, Goldman Sachs and JP Morgan were the book running lead chiefs on the issue.

Among the grapple speculators were Abu Dhabi Investment Authority – Behave, Blackrock India Equities (Mauritius), HSBC Indian Equity Mother Fund, UTI – Mastershare Unit Scheme, BNP Paribas Arbitrage, Amansa Holdings and Tata Balanced Fund.

The Kolkata-based private segment loan specialist was ordered by the RBI to turn out with an IPO following three years of the culmination of managing account tasks in the wake of relocating from microfinancing movement as it were.