Bandhan Bank to go public, launch record $689 million IPO next week

India’s Bandhan Bank Ltd will launch an up to Rs 44.73 billion ($688.6 million) initial public offering of shares on March 15, in what will be the biggest ever initial share sale by a local bank.

The Kolkata-based bank and its shareholders will be selling up to 119.3 million shares, or about 10 percent of the post-issue share capital of the bank, in a price range of Rs 370 to 375 each in the IPO, according to a prospectus and public notice on Thursday. The bank will sell up to 97.7 million new shares in the IPO that will.....

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