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BAJFINANCE - Bajaj Finance News Story

₹3138.95 110.1  3.6%

Last Trade - 25/09/20

Sector
Financials
Size
Large Cap
Market Cap £20.00bn
Enterprise Value £31.36bn
Revenue £2.89bn
Position in Universe 13th / 3012

BREAKINGVIEWS-Tiny loans price big future for newbie India bank

Fri 23rd March, 2018 2:11am
(The author is a Reuters Breakingviews columnist. The opinions expressed are her own.) By Una Galani MUMBAI, March 23 (Reuters Breakingviews) - An IPO will give Bandhan a market cap of $7 bln, or almost five times book value. That sounds punchy for a microfinance lender that only became a bank three years ago. But those rich figures can be justified by low costs and pricey loans, which together produce fat returns. Full view will be published shortly. On Twitter https://twitter.com/ugalani CONTEXT NEWS - India’s Bandhan Bank on March 22 priced shares in its initial public offer at the top of the range, valuing the lender at almost $7 billion. - Investor subscriptions for the initial public offering of Bandhan amounted to almost 15 times the shares on offer, as of March 19, data from India's National Stock Exchange showed. - The bank offered a mix of new and existing stock valued at up to $686 million in a narrow price range between 370 rupees and 375 rupees. The issue period closed on March 19. Anchor investors include the Abu Dhabi Investment Authority. - Axis Capital, Goldman Sachs, JM Financial, JPMorgan and Kotak Mahindra are managing the IPO. - The shares are due to begin trading on or around March 27. - For previous columns by the author, Reuters customers can click on GALANI/ - SIGN UP FOR BREAKINGVIEWS EMAIL ALERTS: http://bit.ly/BVsubscribe <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ NSE data https://www.nseindia.com/products/content/equities/ipos/ipo_current_bandhanbnk.htm Bandhan Bank draws strong interest for $690 million IPO urn:newsml:reuters.com:*:nL3N1R14JF BREAKINGVIEWS-Indian bank M&A is creative fix for both sides urn:newsml:reuters.com:*:nL3N1PA16C BREAKINGVIEWS-Microfinance goes mainstream in India urn:newsml:reuters.com:*:nL4N1MR077 BREAKINGVIEWS-Indian bank is right to think big in microfinance urn:newsml:reuters.com:*:nL1N1FS03G ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^> (Editing by Quentin Webb and Sharon Lam) ((una.galani@thomsonreuters.com; Reuters Messaging: una.galani.thomsonreuters.com@reuters.net))
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