March 27, 2018 / 4:41 AM / a month ago

India's Bandhan Bank soars in trading debut after $691 mln IPO

MUMBAI, March 27 (Reuters) - Shares in Indian private sector lender Bandhan Bank Ltd rose as much as 33 percent in their trading debut on Tuesday after its $691 million initial public offering.

By 0430 GMT, the shares were trading at 461.35 rupees, 23 percent higher than the IPO issue price of 375 rupees.

The IPO, which is the biggest for an Indian bank, had been subscribed nearly 15 times, driven by strong demand from institutional investors. ($1 = 64.7550 Indian rupees) (Reporting by Devidutta Tripathy and Swati Bhat; Editing by Subhranshu Sahu)

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