Bandhan Bank initiates IPO process:

Bandhan Bank has initiated the process of an initial public offering (IPO). The timing of the IPO will depend on market conditions, Chandra Shekhar Ghosh, Managing Director and CEO, Bandhan Bank, said.

The bank is in the process of selecting investment bankers for its proposed IPO. “The process of selecting investment banks has started. It is a long process,” he said.

Bandhan is the first microfinance institution to receive universal banking licence in 2015. The Reserve Bank of India’s guidelines mandates the bank to get itself listed within three years from commencement of banking operations.

“As per RBI norms we have to get listed within three years; we are in the process,” Ghosh told newspersons on the sidelines of its second anniversary celebration here on Wednesday. The bank is not in a hurry to go for an IPO immediately as it is comfortable on the capital front.

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