Kolkata-based private sector lender Bandhan Bank filed draft papers with markets regulator Sebi on Monday for its initial public offer (IPO) to raise an estimated amount of over Rs 2,500 crore. The issue, which is the touted as the biggest banking sector IPO till date, is expected to raise over Rs 2,500 crore, merchant banking sources said. The equity shares are proposed to be listed on BSE and NSE. Bandhan Bank is the first instance in India when a micro-finance entity transforming into a universal bank. In April 2014, the Reserve Bank of India had granted banking license to Bandhan Financial Services as well as IDFC.

Source: Hindustan Times January 01, 2018 10:30 UTC