|Basis of Allotment|
IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS
ANNOUNCEMENT AND DOES NOT CONSTTTUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR
SUBSCRIBE TO SECURITIES. NOT FOR PUBLICATION AND DISTRIBUTION, DIRECTLY OR INDIRECTLY,
BANDHAN BANK LIMITED
Our Bank was incorporated as Bandhan Bank Limited on Decenr ser 23, 2014 at Kolkata, West Bengal as a public Limited company under the Companies Act, 2013. For further details, see 'History and Certain Corporate Matters' on page 168 of the Prospectus dated March 20, 2018 ("Prospectus")
Registered and Corporate Office: DN 32, Sector V, Salt Lake, Kolkata 700 091; Tel: (033) 6609 0909; Fax; (033) 6609 0502: Contact Person: indrani Banerjee, Company Secretary and Compliance Officer; E-mail: firstname.lastname@example.org Website: www.bandhanbank.com Corporate Identity Number: U67l90WB2014PLC204622
PROMOTERS OF OUR BANK: BANDHAN FINANCIAL HOLDINGS LIMITED, BANDHAN FINANCIAL SERVICES LIMITED, FINANCIAL INCLUSION TRUST AND NORTH EAST FINANCIAL INCLUSION TRUST
Our Bank has registered the Prospectus with, the Registrar of Companies, West Bengal at Kolkata and the Equity Shares are proposed to be listed on BSE and NSE and the trading will commence on March 27, 2018.
BASIS OF ALLOTMENT
PUBLIC ISSUE OF 119,280,494 EQUITY SHARES OF FACE VALUE OF RS 10 EACH (THE "EQUITY SHARES") OF BANDHAN BANK LIMITED (OUR "BANK") FOR CASH AT A PRICE OF RS 375 PER EQUITY SHARE (INCLUDING A SHARE PREMIUM OF RS 365 PER EQUITY SHARE) AGGREGATING TO RS 44,730.19 MILLION (THE "ISSUE") CONSISTING OF A FRESH ISSUE OF 97,663,910 EQUITY SHARES AGGREGATING TO RS 36,623.97 MILLION BY OUR BANK AND AN OFFER FOR SALE OF 14,050,780 EQUITY SHARES BY IFC AGGREGATING TO RS 5,269.04 MILLION AND 7,565,804 EQUITY SHARES BY IFC FIG AGGREGATING TO RS 2,837.18 MILLION (COLLECTIVELY, THE "SELLING SHAREHOLDERS" AND SUCH EQUITY SHARES OFFERED BY THE SELLING SHAREHOLDERS, THE "OFFERED SHARES") ("OFFER FOR SALE"). THE ISSUE CONSTITUTES 10% OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR BANK.
ISSUE PRICE: RS 375 PER EQUITY SHARE OF FACE VALUE OF RS 10
Risks to Investors:
1. The five merchant bankers associated with the Issue have handled 57* public issues
in the past three years out of which 17* public issues closed below the Issue Price on
*As disclosed in the Prospectus
BID / ISSUE PERIOD: OPENED ON: THURSDAY, MARCH 15, 2018;
In terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("$CRR") the Issue was for 10% of the post-Issue paid-up equity share capital of our Bank. The issue has been made through the Book Building Process, in compliance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the"SEBI ICDR Regulations"), wherein not more than 50% of the Issue shall be allocated on a proportionate basis to Qualified Institutional Buyers ("QIBs", the 'QIB Portion'), Further, our Bank in consultation with the Book Running Lead Managers and with intimation to the Selling Shareholders, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis ("Anchor Investor Portion"). At least one-third of the Anchor Investor Portion was reserved For domestic Mutual Funds, subject to valid Bids having been received from domestic Mutual Funds at or above Anchor Investors Allocation Price. 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall he available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids having been received at or above the Issue Price. Further, not less than 15% of the issue shall be available for allocation on a proportionate basis to Non-institutional Bidders and not less than 35% of the Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids having been received at or above the Issue Price All Bidders, other than Anchor Investors, participated in the Issue through the Application Supported by Blocked Amount ("ASBA") process providing details of their respective bank account which were blocked by the SCSBs. Anchor Investors were not permitted to participate in the Issue through the ASBA Process. For details, see "Issue Procedure" beginning an page 475 of the Prospectus.
The Issue excluding Anchor Investors received 1,041,183 applications for 1,254,580,240 Equity Shares (prior to technical rejections) resulting in 10.52 times subscription. The details of the applications received in the Issue from various categories are as under (before technical rejections):
The Basis of allotment was finalized in consultation with the Designated Stock Exchange, being the BSE, on March 22, 2018.
A. Allotment to Retail Individual Bidders (after technical rejections) (including ASBA Applications)
The Basis of Allotment to the Retail Individual Bidders, who have Bid at the Cut-Off Price or at the Issue Price of Rs 375 per Equity Share, was finalizec in consultation with the Designated Stock Exchange. This category has been subscribed to the extent of 1.139761 times. The total number of Equily Shares Allotted in Retail Portion is 41,748,173 Equity Shares to 1,023,470 successful Retail Individual Bidders. The category-wise details of the Basis of Allotment are as under:
B. Allotment to Non-lnstitutional Bidders (after technical rejections)
The Basis of Allotment to the Non-institutional Bidders, who have Bid at the Issue Price of Rs 375 per Equity Share, was finalized in consultation with the Designated Stock Exchange. The Non-Institutional Portion has been subscribed to the extent of 13.794903 times. The tolal number of Equity Shares Allotted in this category is 17,892,075 Equity Shares to 968 successful Non- Institutional Bidders. The category-wise details of the Basis of Allotment are as under (sample):
C. Allotment to QlBs (other than Anchor Investors)
Allotment to QIBs, who have Bid at the Issue Price of Rs 375 per Equity Share, has been done on a proportionate basis in consultation with the Designated Stock Exchange. This catagory has been subscribed to the extent of 38.6602 times of QIB Portion. As per the SEBI ICDR Regulations, Mutual Funds were Allotted 5% of the Equity Shares of QIB Portion available i.e. 1,192,805 Equity shares and other QlBs and unsatisfied demand of Mutual Funds were Allotted the remaining available Equity Shares i.e. 22,663,294 Equity Shares on a praportionate basis. The total number of Equity Shares Allotted in the QIB Portion is 23,856,099 Equity Shares, which were allotted to 171 successful QIB Bidders. The category-wise details of the Basis of Allotment are as under:
D. Allotment to Anchor Investors
The Bank and the Selling Shareholders, in consultation with the BRLMs, have allocated 35,784,147 Equity Shares to 63 Anchor Investors (through 92 applications) al the Anchor Investor Offer Price of Rs 375 per Equity Share in accordance with the SEBI ICDR Regulations. This represents 60 % of the QIB Portion. Allotment to such Anchor Investors is as mentioned below:
The Committee of our Bank on March 23, 2018 has taken on record the Basis of Allotment of Equity Shares approved by the Designated Stock Exchange, being BSE and has allotted the Equity Shares to various successful Bidders. The Allotment Advice-cum-intimalions and/ or notices will be dispatched to the address of the investors as registered with the Depositories. Further, the instructions to the Self Certified Syndicate Banks for unblocking of funds, transfer to Pubbc Issue Account have been issued on March 23, 2018 and payment to non-Syndicate brokers have been issued on March 23, 2018. In case the same is not received within ten days, investors may contact the Registrar to the Issue at the address given below. The Equity Shares Allotted to the successful Allottees have been uploaded on March 23, 2018 for credit into the respective beneficiary accounts subject to validation of the account details with the Depositories concerned. The Bank has filed the listing application with NSE and BSE on March 23, 2018. The Company has received listing and trading approval from NSE and BSE and the trading will commence on or about March 27, 2018.
All capitalised terms used and not specifically defined herein shal have the same meaning as ascribed to them in the Prospectus.
INVESTORS PLEASE NOTE
The details of the allotment made will be hosted on the website of the Registrar to the Issue, Karvy Computershare Privete Limited at https://karisma.karvy.com
All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the first/sole Bidder, Bid cum Application Form number, Bidder DP ID, Client ID, PAN, date of submission of Bid cum Application Form, address of the Bidder number of Equity Shares applied for. The name and address of the Designated Intermediary where the Bid cum Application Form was submitted by the Bidder, and a copy of the Acknowledgment Slip received forn the Designated Intermediary at the address given below:
Karvy Computersharc Private Limited
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITV SHARES ON LISTING OR THE BUSINESS PROSPECTS OF BANDHAN BANK LI MITED.