Equity benchmark indices cracked by over 1.5 per cent on Monday as investors fretted over the economic consequences of surging new coronavirus cases across the world.
As part of Yes Bank's reconstruction plan, private sector Bandhan Bank said it will invest Rs 300 crore in Yes Bank reconstruction plan for the crisis-hit lender.
Bandhan Bank on Tuesday said that the Reserve Bank of India has lifted the regulatory restrictions on the bank against opening a new branch considering the "efforts made by the bank to comply with the said licencing condition"
The Reserve Bank of India (RBI) on Tuesday imposed Rs 1 crore penalty on Bandhan Bank for non-compliance with promoter holding norms, contained in the licencing guidelines.
Managing director and chief executive CS Ghosh said it took nine months to complete the merger with Gruh and the bank, which has its roots in the micro-lending segment, will now focus more on affordable housing loans.
The city-headquartered Bandhan Bank said its board of directors had approved merger of India's leading housing finance company, with a focus on the affordable housing segment, into the bank
On Wednesday, the bank's chief executive CS Ghosh said the bank would add another 40 branches by December 31.
Total income of the bank for the quarter under review stood at Rs 1,836.07 crore, up 36.73 per cent, against Rs 1,342.76 crore as on September 30, 2017, Bandhan Bank said in a regulatory filing.
The bank's Rs 4,473 crore IPO, which concluded last week, was subscribed 14.62 times.
Ghosh said he was expecting a bullish response from the market as the IPO was well received by the investors and retail individuals.
CEO of Bandhan Bank Chandra Shekhar Ghosh said that oversubscription on account of QIP was 38.67 times and that of HNI investors was 13.89 times.
MD and CEO of Bandhan Bank Chandra Shekhar Ghosh said that oversubscription on account of QIP was 38.67 times and that of HNI investors was 13.89 times.
The IPO, which will close on March 19, will comprise a fresh issue of 97,663,910 shares, an offer for sale for up to 14,050,780 shares by World Bank-controlled International Finance Corp (IFC) and up to 7,565,804 shares by the IFC FIG Investment Co.
In a statement, the bank said it proposes to offer up to 119,280,494 equity shares of face value of Rs 10 each at a price to be determined through a book building process including premium.
Bandhan Bank will continue to disburse a large chunk of loans as microcredit for some more time as a strategy to grow its business, founder and chief executive Chandra Shekhar Ghosh has said.
The government’s decision to demonetise high-value currency notes will take its toll on the microfinance industry and could lead to losses in the range of Rs 1,500 crore to Rs 1,700 crore, Chandrashekhar Ghosh, CEO of Bandhan Bank, has said
The seven-month-old Bandhan Bank already commands a business of Rs 27,000 crore and is targeting a 30 percent growth this fiscal year, a top official of the bank has said.
Top News
Latest News
