IPO Details

Name of Company Bandhan Bank

IPO Date March 15,2018 - March 19, 2018
Issue Size 119,280,494 equity shares at Rs. 10 face value
Fresh Issue 97,663,910 Eq Shares of ₹10
Offer for Sale 21,616,5844 Eq Shares of ₹10
Face Value Rs. 10
Price Range Rs. 370 to Rs.375
Listing Date March 27,2018
IPO Price Rs. 375
Face Value Rs. 10
Premium Rs. 365
Total fund Raised ₹ 4,47,30,18,54,000.00

Shareholding Pattern
Pre-IPO
Particular No. of Shares
Pre IPO Promoters Holding 982957482
Institutional Investors 5,75,35,522
Others 5,46,48,030
Total 1,09,51,41,034
Post-IPO
Post IPO Promoters holding 98,14,83,277
Institutional Investors 13,60,78,189
Public 7,52,43,478
Total 1,19,28,04,944
Percent
89.76%
5.25%
4.99%
100.00%

82.29%
11.41%
6.30%
100.00%
Date Bandhan Bank Stock_Return NSE 500 NSE_500_Return
27-03-2018 473.3824 8978.1
28-03-2018 465.6391 -0.01635738886786 8912.1 -0.007351221305176
02-04-2018 472.2407 0.01417750356446 9023.6 0.012511080441198
03-04-2018 479.9344 0.01629190368386 9074.85 0.005679551398555
04-04-2018 482.5154 0.00537781830183 8975.6 -0.01093681989234
05-04-2018 505.4971 0.04762894614348 9146.15 0.019001515219038
06-04-2018 504.554 -0.00186568825024 9172.05 0.002831792612192
09-04-2018 510.7089 0.01219869429239 9205.2 0.003614241091141
10-04-2018 514.8784 0.00816414203864 9219.15 0.001515447790379
11-04-2018 529.6204 0.02863200320697 9230.85 0.001269097476449
12-04-2018 530.8613 0.0023429988724 9247.25 0.001776651120969
13-04-2018 524.8057 -0.01140712272678 9267.65 0.002206061261456
16-04-2018 515.0273 -0.01863241957928 9311.3 0.004709931859749
17-04-2018 501.4269 -0.02640714385432 9330.3 0.002040531397334
18-04-2018 500.4838 -0.00188083248027 9311.6 -0.002004222800982
19-04-2018 501.4269 0.00188437667713 9356.4 0.004811203230379
20-04-2018 491.45 -0.01989701789034 9347.65 -0.000935188747809
23-04-2018 494.726 0.00666598840167 9373.4 0.002754703053709
24-04-2018 486.2878 -0.01705630995743 9390.4 0.001813642861715
25-04-2018 490.7054 0.0090843323645 9349.95 -0.004307590730959
26-04-2018 491.4004 0.00141632841212 9381.35 0.003358306728913
27-04-2018 502.7671 0.02313123880241 9443.65 0.006640835274241
30-04-2018 509.7162 0.01382170790412 9496.5 0.005596353104997
02-05-2018 512.0988 0.004674365853 9444.5 -0.005475701574264
03-05-2018 498.3991 -0.0267520642501 9388.65 -0.005913494626502
04-05-2018 500.9305 0.00507906214116 9339.75 -0.00520841654551
07-05-2018 490.904 -0.02001575068797 9418.8 0.008463823978158
08-05-2018 490.7551 -0.00030331796033 9419.85 0.000111479169321
09-05-2018 485.0469 -0.01163146343258 9418.9 -0.000100850862806
10-05-2018 482.9126 -0.0044001930535 9360.95 -0.006152523118411
11-05-2018 480.8278 -0.00431713730393 9416.35 0.005918202746516
14-05-2018 476.4598 -0.00908433331018 9389.95 -0.00280363410451
15-05-2018 480.3315 0.00812597411156 9365.9 -0.002561248994936
16-05-2018 478.9912 -0.00279036457113 9328.7 -0.003971855347591
17-05-2018 480.3315 0.00279817249252 9304.45 -0.002599504754146
18-05-2018 476.0627 -0.00888719561386 9209.2 -0.010237037116649
21-05-2018 465.3909 -0.02241679509863 9108.7 -0.010913000043435
22-05-2018 466.9296 0.00330625287259 9145.65 0.004056561309517
23-05-2018 492.3435 0.05442769102666 9069.8 -0.008293560326494
24-05-2018 473.7298 -0.03780632830534 9115.55 0.005044212661801
25-05-2018 479.5869 0.01236379894193 9215.55 0.010970265096456
28-05-2018 481.0263 0.00300133302223 9307.55 0.00998312634623
29-05-2018 476.2613 -0.0099059032739 9270.6 -0.003969895407492
30-05-2018 466.4829 -0.02053158633716 9255 -0.001682738981296
31-05-2018 467.0786 0.00127700286549 9315.35 0.006520799567801
01-06-2018 471.6451 0.00977672708619 9255.1 -0.00646781924458
04-06-2018 470.5035 -0.00242046403111 9175.9 -0.008557444003847
05-06-2018 466.6318 -0.00822884420626 9110.5 -0.007127366252902
06-06-2018 492.0953 0.05456871992007 9205.9 0.010471434059602
07-06-2018 494.4282 0.00474074838756 9300.1 0.010232568244278
08-06-2018 494.4778 0.00010031790258 9316.25 0.001736540467307
11-06-2018 508.4753 0.02830764090926 9332.4 0.001733530122098
12-06-2018 516.4171 0.0156188511025 9386.45 0.005791650593631
13-06-2018 531.8044 0.02979626352419 9386.4 -5.326827501461E-06
14-06-2018 543.2208 0.0214672913575 9356.65 -0.00316947924657
15-06-2018 546.1494 0.00539117795195 9343.7 -0.00138404236559
18-06-2018 547.9362 0.00327163226765 9318.55 -0.002691653199482
19-06-2018 530.3154 -0.03215848852476 9234.5 -0.009019643614082
20-06-2018 535.7753 0.01029557127702 9276.4 0.004537332827982
21-06-2018 533.6409 -0.00398375960967 9240.25 -0.003896985899702
22-06-2018 532.2015 -0.00269731948957 9296.65 0.00610373095966
25-06-2018 530.6131 -0.00298458384653 9234.4 -0.006695960372822
26-06-2018 527.6349 -0.0056127524933 9231.8 -0.000281555921338
27-06-2018 520.0405 -0.01439328596346 9129.25 -0.011108342901709
28-06-2018 508.4753 -0.02223903715191 9036.95 -0.010110359558562
29-06-2018 522.7209 0.02801630679012 9162.45 0.013887428833843
02-07-2018 523.813 0.00208926025342 9109 -0.005833592543479
03-07-2018 555.1831 0.05988797528889 9149.4 0.004435174003733
04-07-2018 544.4617 -0.01931146679357 9194.55 0.00493474981966
05-07-2018 536.1228 -0.01531586151974 9166.6 -0.003039844255564
06-07-2018 540.3419 0.00786965225131 9194.5 0.003043658499335
09-07-2018 553.8926 0.0250780107928 9277.95 0.009076078090163
10-07-2018 575.7822 0.03951957473344 9359.4 0.008778878954941
11-07-2018 563.2739 -0.02172401300353 9344.25 -0.001618693505994
12-07-2018 560.0419 -0.00573788347019 9380.9 0.003922198143243
13-07-2018 565.8098 0.01029905083887 9349.05 -0.003395196622925
16-07-2018 554.2738 -0.02038847683444 9231.25 -0.012600210716597
17-07-2018 559.644 0.00968871341204 9315.25 0.009099526066351
18-07-2018 597.1857 0.06708139460085 9269.55 -0.004905933818201
19-07-2018 614.0919 0.02830978705619 9236.3 -0.003587013393315
20-07-2018 683.6061 0.1131983665637 9286.1 0.005391769431482
23-07-2018 677.4403 -0.00901952162217 9363.85 0.00837272913279
24-07-2018 704.7885 0.04036990418196 9450.65 0.009269691419662
25-07-2018 691.2636 -0.01919001232285 9449.9 -7.935962076683E-05
26-07-2018 660.8325 -0.04402242501992 9487.9 0.004021206573615
27-07-2018 683.258 0.03393522564341 9579.05 0.009606973092044
30-07-2018 686.1917 0.00429369286565 9618.7 0.004139241365271
31-07-2018 697.4791 0.01644933915697 9650.6 0.003316456485804
01-08-2018 703.0482 0.00798461201203 9651.7 0.000113982550308
02-08-2018 695.5895 -0.01060908768417 9588.8 -0.00651698664484
03-08-2018 694.8437 -0.00107218409709 9685.7 0.010105539796429
06-08-2018 685.048 -0.0140977028359 9709.35 0.002441744014372
07-08-2018 671.722 -0.01945265149303 9704.8 -0.000468620453481
08-08-2018 688.9265 0.02561253018362 9744.75 0.004116519660374
09-08-2018 725.6726 0.05333820080952 9769.1 0.00249878139511
10-08-2018 698.8216 -0.03700153485194 9724.45 -0.004570533621316
13-08-2018 681.7166 -0.02447691943123 9656.5 -0.006987541711871
14-08-2018 695.0426 0.0195477123485 9726.15 0.007212758245741
16-08-2018 696.783 0.00250401917811 9685.65 -0.00416403201678
17-08-2018 700.015 0.00463845989354 9770.2 0.008729408971004
20-08-2018 695.8879 -0.00589573080577 9839.75 0.007118585085259
21-08-2018 681.269 -0.02100755021031 9862.5 0.002312050611042
23-08-2018 662.0258 -0.02824611130112 9872.55 0.001019011406844
24-08-2018 670.8766 0.01336926748172 9850.8 -0.002203078232068
27-08-2018 685.5453 0.02186497487019 9958.8 0.01096357656231
28-08-2018 694.1475 0.01254796728969 9985.9 0.002721211390931
29-08-2018 682.363 -0.01697693933926 9973.65 -0.001226729688861
30-08-2018 673.6613 -0.01275230339277 9975.2 0.000155409504043
31-08-2018 690.9652 0.02568635009908 9992 0.001684176758361
03-09-2018 667.048 -0.0346141889635 9921.65 -0.007040632506005
04-09-2018 634.777 -0.04837882731078 9806.05 -0.011651287840228
05-09-2018 631.8931 -0.0045431702787 9764.55 -0.004232081215168
06-09-2018 639.6003 0.01219699977734 9815.45 0.005212733817739
07-09-2018 655.0148 0.02410020758277 9875.2 0.006087341894666
10-09-2018 642.7329 -0.01875056868944 9740.1 -0.013680735580039
11-09-2018 616.8267 -0.04030632320206 9607.1 -0.013654890606873
12-09-2018 609.4178 -0.01201131533379 9660.6 0.005568798076423
14-09-2018 621.8488 0.02039815706072 9792.75 0.013679274579219
17-09-2018 621.0532 -0.00127941068633 9696.45 -0.009833805621506
18-09-2018 615.9814 -0.00816645015274 9594.25 -0.010539939874903
19-09-2018 598.9757 -0.02760748944692 9545.7 -0.005060322589051
21-09-2018 566.4562 -0.05429185190651 9425.55 -0.012586819196078
24-09-2018 544.7268 -0.0383602474472 9243.15 -0.019351655871541
25-09-2018 563.9203 0.03523509399574 9303.35 0.006512931197698
26-09-2018 549.55 -0.02548285635399 9302.25 -0.000118236979153
27-09-2018 567.2021 0.03212100809753 9202.35 -0.010739337257115
28-09-2018 562.1302 -0.00894196266199 9116 -0.009383472699908
01-10-2018 449.7042 -0.19999992884211 9165.5 0.005430013163668
03-10-2018 443.9362 -0.01282620887241 9056.7 -0.011870601712945
4-10-2018 455.87 0.02688179067172 8854.85 -0.022287367363389
5-10-2018 456.2678 0.0008726171935 8624.95 -0.025963172724552
8-10-2018 468.5993 0.02702689078651 8602.6 -0.002591319369967
9-10-2018 484.163 0.03321323783454 8562.95 -0.004609071676005
10-10-2018 509.3233 0.05196658976419 8748.5 0.0216689341874
11-10-2018 467.6049 -0.08190946693387 8565.6 -0.020906441104189
12-10-2018 465.2181 -0.00510430921489 8767.1 0.02352432987765
15-10-2018 468.1518 0.0063060745057 8812 0.005121419853771
16-10-2018 461.3893 -0.01444510092667 8893.8 0.009282796187018
17-10-2018 451.9418 -0.02047620090019 8758.6 -0.015201601115384
19-10-2018 414.0023 -0.08394775610488 8640.65 -0.013466764094719
22-10-2018 406.6929 -0.01765545746968 8576.95 -0.007372130568881
23-10-2018 397.5934 -0.02237437634146 8489.9 -0.010149295495485
24-10-2018 390.632 -0.01750884194758 8555.65 0.007744496401607
25-10-2018 377.9524 -0.03245919433124 8473.5 -0.009601842057588
26-10-2018 378.3502 0.00105251349112 8417.25 -0.00663834306957
29-10-2018 396.4995 0.04796957950597 8610.1 0.0229112833764
30-10-2018 382.4773 -0.03536498784992 8600.3 -0.001138198162623
31-10-2018 388.0961 0.01469054503365 8753.45 0.017807518342384
01-11-2018 409.0299 0.0539397329682 8772.5 0.002176284779144
02-11-2018 424.4941 0.03780701606411 8899.4 0.014465659732117
5-11-2018 433.5439 0.02131902422201 8877.9 -0.002415893206284
6-11-2018 435.135 0.00366998589993 8870.3 -0.000856058302076
7-11-2018 436.9251 0.00411389568755 8933.5 0.007124899947014
9-11-2018 429.1184 -0.01786736445217 8946.35 0.001438405999888
12-11-2018 423.5493 -0.01297800327369 8859.25 -0.00973581404707
13-11-2018 430.0135 0.01526197776741 8923.55 0.007257950729463
14-11-2018 431.2068 0.00277502915606 8921.45 -0.000235332350914
15-11-2018 457.2125 0.0603091138637 8954.65 0.003721368163247
16-11-2018 473.5717 0.03578029909506 8993.25 0.004310609571563
19-11-2018 475.5607 0.00419999759276 9052.75 0.006616073165986
20-11-2018 459.5993 -0.03356332850885 8960.15 -0.010228935958687
21-11-2018 464.2733 0.01016972828288 8940.3 -0.002215364698136
22-11-2018 451.544 -0.02741768695292 8879 -0.0068565931792
26-11-2018 451.0467 -0.00110133231756 8943 0.00720801892105
27-11-2018 462.3838 0.02513509133311 8983.9 0.004573409370457
28-11-2018 463.975 0.00344129703506 8993.25 0.00104075067621
29-11-2018 484.3121 0.04383231855165 9081.85 0.009851833319434
30-11-2018 480.9806 -0.00687882875526 9109.15 0.00300599547449
03-12-2018 488.7376 0.01612746959025 9126.9 0.001948590153856
4-12-2018 484.4613 -0.00874968490249 9116.45 -0.001144967075349
5-12-2018 475.3618 -0.01878271804167 9029.45 -0.009543188412156
6-12-2018 467.5551 -0.01642264902228 8883.25 -0.01619146238143
7-12-2018 469.3949 0.00393493729402 8940.65 0.006461599076914
10-12-2018 469.3949 0 8769.6 -0.019131718611063
11-12-2018 464.2733 -0.01091106869717 8845.15 0.00861498814085
12-12-2018 469.3452 0.01092438440892 9021.6 0.019948785492615
13-12-2018 501.4669 0.06843939173129 9077.3 0.006174071118205
14-12-2018 530.8538 0.05860187382258 9091.3 0.001542308836328
17-12-2018 561.3347 0.05741863390636 9153.95 0.006891203678242
18-12-2018 568.3458 0.01249005272612 9177.35 0.002556273521267
19-12-2018 553.3291 -0.02642176646682 9246.8 0.007567544007802
20-12-2018 534.6328 -0.03378875248021 9234.45 -0.001335597179565
21-12-2018 523.8925 -0.0200891153704 9082.55 -0.016449274185252
24-12-2018 521.3565 -0.00484068773651 9002.45 -0.008819109170882
26-12-2018 542.34 0.04024789179765 9041.7 0.004359924242845
27-12-2018 537.6163 -0.00870984990965 9078.8 0.004103210679407
28-12-2018 532.8925 -0.00878656394905 9152.55 0.00812332026259
31-12-2018 547.1136 0.02668662065989 9170 0.001906572485264
01-01-2019 553.6274 0.01190575412492 9170 0
02-01-2019 549.1025 -0.00817318651497 9103.4 -0.007262813522356
03-01-2019 530.8538 -0.03323368587832 9014.8 -0.009732627369994
04-01-2019 525.9809 -0.00917936350837 9054.9 0.004448240670897
07-01-2019 495.3011 -0.05832873399015 9081.15 0.002898982871153
08-01-2019 474.417 -0.04216445309732 9098.65 0.001927068708258
09-01-2019 452.8865 -0.04538307016823 9127.45 0.003165304743011
10-01-2019 468.9474 0.03546341081043 9119.4 -0.00088195498195
11-01-2019 451.892 -0.03636953739375 9098.2 -0.002324714345242
14-01-2019 440.7539 -0.02464770343356 9051.45 -0.005138379020026
15-01-2019 450.0522 0.02109635331644 9157.15 0.011677687000425
16-01-2019 446.1738 -0.00861766701729 9158.75 0.000174726852787
17-01-2019 447.2677 0.00245173517584 9161.6 0.000311177835403
18-01-2019 437.7207 -0.0213451586153 9140.1 -0.002346751659099
21-01-2019 424.2455 -0.0307849274663 9155.3 0.001663001498889
22-01-2019 406.6929 -0.04137368575506 9131.15 -0.002637816346815
23-01-2019 411.9139 0.01283769645352 9068.85 -0.006822798880754
24-01-2019 411.6156 -0.00072418046587 9072.2 0.00036939634022
25-01-2019 422.1074 0.02548931575966 8994.35 -0.008581160027336
28-01-2019 415.3946 -0.01590306163787 8876.6 -0.013091551918705
29-01-2019 407.3393 -0.01939192276452 8875.65 -0.000107022959241
30-01-2019 403.7095 -0.00891099876688 8884.9 0.001042177192656
31-01-2019 401.7205 -0.0049268099958 9003.85 0.013387882812412
01-02-2019 402.6155 0.00222791717127 9056.3 0.005825285849942
04-02-2019 401.5713 -0.00259354148064 9042 -0.001579011296004
05-02-2019 414.3504 0.03182274231251 9033.6 -0.00092899800929
06-02-2019 437.9693 0.05700223771957 9118.7 0.009420386114063
07-02-2019 457.9087 0.04552693533542 9145.8 0.002971914856284
08-02-2019 462.1849 0.00933854281432 9036.9 -0.01190710490061
11-02-2019 461.638 -0.00118329266058 8967.15 -0.007718354745543
12-02-2019 469.196 0.01637213574273 8925.3 -0.00466703467657
14-02-2019 476.7043 0.01600248083956 8869.3 -0.006274298903118
15-02-2019 470.3894 -0.0132469960938 8827.05 -0.00476362283382
18-02-2019 465.765 -0.0098310038449 8754.35 -0.00823604715052
19-02-2019 473.2237 0.0160138696553 8742.3 -0.001376458560601
20-02-2019 474.6159 0.00294194901904 8845.6 0.011816112464683
21-02-2019 486.0027 0.02399161090052 8901.7 0.00634213620331
22-02-2019 480.7817 -0.01074273867203 8919.75 0.002027702573666
25-02-2019 477.4502 -0.00692934028063 8983.85 0.007186300064464
26-02-2019 476.3563 -0.00229112900152 8953.15 -0.003417243164122
27-02-2019 477.6491 0.00271393492644 8946.2 -0.00077626310293
28-02-2019 477.4005 -0.00052046575614 8955.95 0.001089848203707
01-03-2019 477.4005 0 9037.5 0.009105678347914
05-03-2019 483.8149 0.01343609820266 9173.6 0.015059474412172
06-03-2019 498.2845 0.02990730545917 9230.45 0.006197130897358
07-03-2019 493.9088 -0.00878152942747 9225.35 -0.000552519107953
08-03-2019 499.3785 0.01107431169479 9211.05 -0.001550076690857
11-03-2019 508.478 0.01822164951034 9345.6 0.01460745517612
12-03-2019 519.2681 0.02122038711606 9440.85 0.01019196199281
13-03-2019 514.1465 -0.00986311310092 9450.25 0.0009956730591
14-03-2019 510.7653 -0.0065763357331 9447.2 -0.000322742784582
15-03-2019 508.8261 -0.00379665572426 9499.4 0.0055254466932
18-03-2019 489.6823 -0.03762346310459 9516.7 0.001821167652694
19-03-2019 497.8371 0.01665324640078 9570.15 0.005616442674456
20-03-2019 494.9531 -0.00579305961729 9553 -0.001792030427945
22-03-2019 499.0802 0.00833836579668 9500.05 -0.005542761436198
25-03-2019 485.1574 -0.02789691917251 9411.65 -0.009305214183083
26-03-2019 485.1077 -0.00010244098101 9512.6 0.010726068223957
27-03-2019 489.9807 0.01004519202643 9501.8 -0.001135336290814
28-03-2019 519.467 0.06017849274471 9601.95 0.010540108190027
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29-04-2020 234.45 0.06037991858887 7797.2 0.016259473831697
30-04-2020 262.35 0.1190019193858 8012.9 0.027663776740368
04-05-2020 240.95 -0.08157042119306 7596.9 -0.051916284990453
05-05-2020 236.25 -0.01950612160199 7523.05 -0.009721070436625
06-05-2020 249.3 0.0552380952381 7575.5 0.006971906341178
07-05-2020 252.2 0.01163257119936 7520.85 -0.007214045277539
08-05-2020 240 -0.04837430610626 7552 0.004141819076301
11-05-2020 239.85 -0.000625 7556.4 0.000582627118644
12-05-2020 233.9 -0.02480717114863 7520.9 -0.004698004340691
13-05-2020 252.2 0.07823856348867 7667 0.019425866585116
14-05-2020 251.8 -0.00158604282316 7514.55 -0.019883918090518
15-05-2020 243.7 -0.03216838760921 7504.05 -0.001397289258838
18-05-2020 229.6 -0.05785802215839 7245.25 -0.03448804312338
19-05-2020 220.4 -0.04006968641115 7284.5 0.005417342396743
20-05-2020 222.1 0.00771324863884 7426.85 0.019541492209486
21-05-2020 210.85 -0.05065285907249 7470.6 0.005890788153793
22-05-2020 202.95 -0.03746739388191 7416 -0.007308649907638
26-05-2020 202.15 -0.00394185760039 7424.5 0.001146170442287
27-05-2020 219.15 0.08409596834034 7595.55 0.023038588457135
28-05-2020 222.25 0.01414556240018 7732.25 0.017997380044895
29-05-2020 218.15 -0.01844769403825 7822.4 0.011658960845808
01-06-2020 226.65 0.03896401558561 8020.1 0.025273573327879
02-06-2020 240.65 0.0617692477388 8137.45 0.01463198713233
03-06-2020 250.25 0.03989195927696 8203 0.008055349034403
04-06-2020 233.45 -0.06713286713287 8185.9 -0.002084603193953
05-06-2020 247.7 0.06104090811737 8299.35 0.013859196911763
08-06-2020 263.25 0.06277755349213 8323.95 0.002964087549025
09-06-2020 259.85 -0.01291547958215 8238.1 -0.010313613128383
10-06-2020 268.75 0.03425052915143 8293.35 0.006706643522171
11-06-2020 267.5 -0.0046511627907 8137 -0.01885245407465
12-06-2020 283.5 0.05981308411215 8196.4 0.007299987710458
15-06-2020 268.65 -0.05238095238095 8086.45 -0.013414425845493
16-06-2020 268 -0.00241950493207 8152.3 0.008143251983256
17-06-2020 263.2 -0.01791044776119 8140.45 -0.001453577518001
18-06-2020 271.65 0.03210486322188 8283.65 0.01759116510758
19-06-2020 290.6 0.06975888091294 8403.4 0.014456187791614
22-06-2020 311.25 0.07105987611838 8486.45 0.009882904538639
23-06-2020 350.85 0.12722891566265 8621.1 0.015866469489598
24-06-2020 331.35 -0.05557930739632 8496.25 -0.014481910661053
25-06-2020 335.4 0.01222272521503 8499.9 0.000429601294689
26-06-2020 337.95 0.00760286225403 8559 0.006953022976741
29-06-2020 328.2 -0.02885042166001 8488.05 -0.008289519803715
30-06-2020 319.3 -0.02711761121268 8474.8 -0.001561018137264
01-07-2020 325.85 0.02051362355152 8554.75 0.009433850946335
02-07-2020 346.25 0.06260549332515 8647.85 0.010882842865075
03-07-2020 347.15 0.00259927797834 8696.25 0.005596766826437
06-07-2020 356.95 0.02822987181334 8815.7 0.013735805663361
07-07-2020 394.7 0.10575710883877 8850.3 0.003924815953356
08-07-2020 379.3 -0.03901697491766 8785 -0.007378280962227
09-07-2020 381.1 0.00474558397047 8851.5 0.007569721115538
10-07-2020 373.95 -0.01876147992653 8813.95 -0.004242218832966
13-07-2020 370.1 -0.01029549405001 8834.2 0.002297494312992
14-07-2020 352.4 -0.0478249121859 8693.35 -0.015943718729483
15-07-2020 349.4 -0.00851305334847 8689.85 -0.000402606590095
16-07-2020 342.5 -0.019748139668 8766.6 0.008832143247582
17-07-2020 352.8 0.03007299270073 8895.3 0.014680720005475
20-07-2020 350.5 -0.00651927437642 8985.1 0.010095218823424
21-07-2020 353.2 0.0077032810271 9070.6 0.009515753859167
22-07-2020 343.9 -0.02633069082673 9046.6 -0.002645910965096
23-07-2020 349.95 0.01759232334981 9114.05 0.007455839763005
24-07-2020 341.35 -0.02457493927704 9085.95 -0.003083151836999
27-07-2020 330.25 -0.03251794345979 9024.9 -0.006719165304674
28-07-2020 340.55 0.03118849356548 9141.75 0.012947511883788
29-07-2020 336.35 -0.01233299075026 9096.1 -0.004993573440534
30-07-2020 338.1 0.00520291363163 9031.7 -0.007079957344356
31-07-2020 345.1 0.02070393374741 9035.75 0.000448420563128
03-08-2020 308.8 -0.10518690234715 8932.05 -0.011476634479706
04-08-2020 306.9 -0.00615284974093 9074.95 0.015998566958313
05-08-2020 310.95 0.01319648093842 9088.75 0.001520669535369
06-08-2020 300.05 -0.03505386718122 9169.1 0.008840599642415
07-08-2020 307.5 0.02482919513414 9198.65 0.003222780861808
10-08-2020 301.4 -0.01983739837398 9268.55 0.007598941148973
11-08-2020 300.6 -0.00265428002654 9291 0.002422169595028
12-08-2020 297.35 -0.01081170991351 9284.8 -0.000667312452911
13-08-2020 290.9 -0.02169160921473 9307.85 0.00248255212821
14-08-2020 288.2 -0.00928154004813 9214.4 -0.010039912546936
17-08-2020 287.3 -0.00312283136711 9267.9 0.005806129536378
18-08-2020 288 0.0024364775496 9382.05 0.012316706049914
19-08-2020 289.65 0.00572916666667 9412.55 0.003250888665057
20-08-2020 288.6 -0.0036250647333 9368.75 -0.00465336173513
Beta 1.5860783256405
Expected Return -0.002044%
Market Return 0.02%
Effective Annualised Return 4.27%
Risk free Rate 5.88%

Amount Weights
Equity 151954593270.00 0.481255242296
Debt 163791771476.00 0.518744757704
315746364746.00

Cost of Equity 3.32%

Pre-Tax Cost of Debt 27.85%
Post-Tax Cost of Debt 20.89%

Cost of Capital 12%

 Historical Data
Particulars Mar-17 Mar-18
Interest Earned 3,908.71 4,802.30
Net Interest Income 3,908.71 4,802.30
growth % 22.86%

Expenditure
Interest Expended 1,505.21 1,770.06
as % of sales 38.51% 36.86%
Employees Expenses 545.57 687.98
as % of sales 13.96% 14.33%
Operating and Administration Expense 181.46 239.64
 Other Expenses, Provisions & Contingencies+ as % of sales 4.64% 4.99%
316.56 668.99
as % of sales 8.10% 13.93%
Total Expenditure 2,548.80 3,366.67
as % of sales 65.21% 70.11%

EBIDTA before Other Income 1,359.91 1,435.63

Ebidta Margin % 34.79% 29.89%
Ebidta growth % -14.08%

Depreciation 66.85 85.92

as % of sales 1.71% 1.79%
% Increase 4.61%
EBIT before other Income 1,293.06 1,349.71
Ebit Margin % 33.08% 28.11%
Ebit growth %

Other Income 411.41 706.18

as % of sales 10.53% 14.71%

EBIT after other Income 1,704.47 2,055.89

Total Tax 592.52 710.34

Effective Tax rate 34.76% 34.55%

Net Profit After Tax 1,111.95 1,345.55

PAT Margin % 28.45% 28.02%
PAT growth % #VALUE! -1.51%

Other Comprehensive Income 0

Total Comprehensive Income for the year 1,111.95 1,345.55
istorical Data Forecasted Values
Mar-19 Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
6,643.37 10,885.49 14062.15 18165.83 23467.07 30315.35
6643.37 10,885.49 14062.15 18165.83 23467.07 30315.35
38.34% 63.85% 29.18% 29.18% 29.18% 29.18%

2,147.95 4,561.58 6018.59 7940.99 10477.41 13823.99

32.33% 41.91% 42.80% 43.71% 44.65% 45.60%
1,008.69 1,367.04 1532.06 1717.00 1924.27 2156.56
15.18% 12.56% 10.89% 9.45% 8.20% 7.11%
305.28 422.85 433.50 444.42 455.62 467.10
4.60% 3.88% 3.08% 2.45% 1.94% 1.54%
1,153.27 1,949.55 3071.17 4838.09 7621.55 12006.40
17.36% 17.91% 21.84% 26.63% 32.48% 39.61%
4,615.19 8,301.02 11055.33 14940.50 20478.85 28454.05
69.47% 76.26% 78.62% 82.25% 87.27% 93.86%

2,028.18 2,584.47 3006.82 3225.33 2988.22 1861.29

30.53% 23.74% 21.38% 17.75% 12.73% 6.14%
2.12% -22.23% -9.94% -16.96% -28.28% -51.78%

78.17 80.26 67.81 57.30 48.41 40.91

1.18% 0.74% 0.48% 0.32% 0.21% 0.13%
-34.23% -37.34% -34.59% -34.59% -34.59% -34.59%
1,950.01 2,504.21 2939.00 3168.03 2939.81 1820.39
29.35% 23.01% 20.90% 17.44% 12.53% 6.00%
4.44% -21.63% -9.15% -16.56% -28.17% -52.07%

1,063.05 1,549.20 2001.295 2585.323 3339.784 4314.416

16.00% 14.23% 14.23% 14.23% 14.23% 14.23%

3,013.06 4,053.41 4940.30 5753.35 6279.59 6134.80

1061.55 1029.68 1604.96 1836.37 1963.00 1856.82

35.23% 25.40% 32.49% 31.92% 31.26% 30.27%

1,951.51 3,023.73 3335.34 3916.98 4316.59 4277.98

29.38% 27.78% 23.72% 21.56% 18.39% 14.11%
4.84% -5.44% -14.61% -9.09% -14.69% -23.28%

0 0 0 0 0 0
1,951.51 3,023.73 3335.34 3916.98 4316.59 4277.98
 Mar-25
39162.12 CAGR 129.18%
39162.12
29.18%

18239.50 CAGR 131.94%

46.57%
2416.89
6.17%
478.87 CAGR 102.52%
1.22%
18913.95 CAGR 157.53%
48.30%
40049.22
102.27%

-887.10
-2.27%
-136.89%

34.56
0.09%
-34.59%
-921.66
-2.35%
-139.19%

5573.470
14.23%

4651.81

1464.53
31.48%

3187.27
8.14%
-42.33%

0
3187.27
 Mar-18 Mar-19 Mar-20
Number of Employees 28159 32342 39750
Employee Benefit Expenses 6879800000 10,086,900,000.00 13,670,400,000.00
Per Employee Cost 244,319.76 311,882.38 343,909.43
CAGR 1.120714956841

Mar-18 Mar-19 Mar-20

Property, Plant and Equipment 2,381,300,000.00 3,312,000,000.00 3,687,700,000.00
Depreciation 859,200,000.00 781,700,000.00 802,600,000.00
Depreciation Rate 36.08% 23.60% 21.76%
CAGR 0.8449307940999
 FCFF Mar-18
EBIT (1-tax) 1,345.55
Depreciation 85.92
Increase in WC -4305.20
Capex 5.41000000000003
FCFF 5,731.26
Discount Factor 1.00
Time Period 0
PV Of FCFF 5731.26

Particulars Mar-17 Mar-18

Fixed Assets 251.79 238.13
Depreciation 66.85 85.92
318.64 324.05
EST CAPEX 5.41000000000003

Particulars Mar-17 Mar-18

(Increase)/Decrease in Advances -44,529,372,696.00 -131,001,028,157.00
(Increase)/Decrease in Other Assets -807,872,396.00 -1,453,868,595.00
(Increase)/Decrease in Investment 8,288,493,924.00 -8,711,744,069.00
Increase in Deposits 111,399,097,838.00 106,403,441,341.00
Increase in Other Current Liabilities 1,715,869,176.00 -8,288,822,697.00
Increase/Decrease in Working Capital 7,606.62 -4,305.20
 Mar-19 Mar-20 Mar-21 Mar-22 Mar-23
1,951.51 3,023.73 3335.34 3916.98 4316.59
78.17 80.26 67.81 57.30 48.41
296.16 2685.35 2069.92 1595.53 1229.87
85.32 39.66 45.43184389218 56.445599214 68.58575755905
1,648.20 378.98 1287.80 2322.30 3066.55
0.00 0.00 0.89 0.79 0.70
0 0 1 2 3
0.00 0.00 1145.40 1837.10 2157.60

Mar-19 Mar-20 Mar-21 Mar-22 Mar-23

331.2 368.77 426.65 493.61 571.08
78.17 80.26 67.81 57.30 48.41
409.37 449.03 494.46 550.91 619.49
85.32 39.66 45.43 56.45 68.59

Mar-19 Mar-20
-105,988,502,241.00 -102,309,543,867.00
96,128,240.00 -9,101,588.00
9,477,256,514.00 3,534,335,017.00
93,626,182,706.00 122,937,851,536.00
5,750,527,104.00 2,699,955,933.00
296.16 2,685.35 CAGR 0.77
 Mar-24 Mar-25
4277.98 3187.27 PV Of Cash Flows
40.91 34.56 Termnal Value
948.00 730.74 PV of Terminal Value
82.12248568008 97.35387207213 Enterprise Value
3288.76 2393.74 Debt
0.63 0.56 Cash and Cash Equivalent
4 5 Equity Value
2058.06 1332.33 No. of shares
Value per share

Mar-24 Mar-25
660.71 764.41 CAGR
40.91 34.56
701.62 798.97
82.12 97.35

-
 8530.49
15543.827454
8651.5054079
17181.99
1637
8352
23896.99
161
148.42852998

15.69%
Shareholdes' Funds
Net Income
Face Value per share (Rs. per share)
No of Shares outstanding
EBITDA
Market Capitalisation
Market Price Per share
Book Value per Share
Earnings Per Share
EV/ EBITDA
NOTE: Considering the listing price of the SBI Cards IPO and the Relative Evaluation Price obta
P/E Ratio
undervalued.
P/B Ratio
Listing Price:
Valuation RsBandhan
of on 375 per share.
Bank P/E ratio (Earnings Multiple)
Relative Evaluation Price:
Valuation of Bandhan Based on P/B ratio (BV multiple)
Rs 294.9 by PE ratio average (< Listing Price. Hence Over Valued)
Rs 294.9 by PB Ratio average. (<Listing Price. Hence Under Valued)
 SBI Bank ICICI Bank HDFC Bank Bandhan Bank
251059 116504.61 170986.03 15195.46
5203 11226 27297 3,023.73
1 2 1 10
892.03 647.28 548.33 161.02
7212.00 18590.00 5280.00 4053.00
187326.30 246094.53 61226.53
210 380.2 111.66 294.9
281.45 179.99 311.83 94.37
5.83 17.34 49.78 18.78
on Price obtained 0.24 0.59
we have tried to interpret 0.20stock is overvalued
weather the 0.34 or
36.00 21.92 2.24 20.06
0.75 2.11 0.36 1.07
376.614454579719
101.178621746438
 Dividend Discount Model for Bandhan Bank
DIvidend Discount Model would be calculated using 3 methods
1 Constant Growth Model
2 Zero Growth Model
3 Variable Growth Rate Growth Model (2-Stage DDM Model)

CONSTANT GROWTH MODEL:

Current market price of BAndhan Bank (as on 24/08/2020)

Dividend yield

Dividend/Share

Cost of equity

Growth rate

INTRINSIC VALUE OF STOCK:

ZERO GROWTH MODEL:

Current market price of BAndhan Bank (as on 24/08/2020)

Dividend yield

Dividend/Share

Cost of Capital

Growth rate

INTRINSIC VALUE OF STOCK:

n Bank

Dividend Yeild
Dividend Paid 608.45
294.9 Number of Share Outstanding 161.02
Dividend/Share 3.78
1.28% Current Market Price 294.9

3.78 Dividend Yeild 1.28%

12.43%

5% VARIABLE GROWTH RATE:

Assumptions
53.38
1. Higher Growth Rate during the covid-19 period & the next 5 years

2. Growth is expected to come down after the end of first period

WACC 12%
Current Market Price 294.9
294.9 Dividend Yeild 1.28%
Dividend/Share 3.78
1.28% Growth Rate (1-5 yrs) 20%
Growth Rate (6-10 yrs) 10%
3.78 Growth Rate (10+) 5%

12.43% YEAR Cash flow

0% 1 4.53
2 5.44
3 6.53
30.39 4 7.84
5 9.40
6 6.69
7 7.36
8 8.10
9 8.91
10 9.80
10 138.45

Value/Share
riod & the next 5 years

end of first period

PV

4.03
4.30
4.59
4.90
5.23
3.31
3.24
3.17
 3.10
3.04
42.89

81.83