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GIC-backed Indian lender makes market debut at 27% premium

Bandhan Bank which serves under-banked and under-penetrated markets, closed at 476.85 rupees

Published Tue, Mar 27, 2018 · 09:50 PM
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Singapore

KOLKATA-basedprivate lender Bandhan Bank, which counts Singapore sovereign wealth fund GIC as an investor, made a market debut at a 27 per cent premium to its issue price of 375 rupees on Tuesday.

At noon, it rose as much as 33 per cent to 499 rupees, but corrected closer to the end of the trading session to finish at 476.85 rupees.

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