Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
IPO News

| More

Bandhan Bank Ltd - IPO Note - Subscribe - HEM Securities

Posted On: 2018-03-15 23:22:48

Bandhan Bank Ltd ( BBL) was incorporated on December 23, 2014 and began operations on August 23, 2015 by opening a greenfield network of 501 bank branches and 50 automated teller machines ("ATMs"), which as of December 31, 2017 have increased to 887 bank branches and 430 ATMs, together serving over 2.13 million general banking customers. Bank's distribution network is particularly strong in East and Northeast India, with West Bengal, Assam and Bihar together accounting for 56.37% and 57.58% of its branches and DSCs as of December 31, 2017.

Consistent track record of growing a quality asset and liability franchise: As of December 31, 2017, bank's percentage of Gross NPAs to Gross Advances (excluding IBPC/Assignment) ("NPAs") was 1.67% of its portfolio. Bank's strong NPA position is largely driven by its group-based individual lending model, its focus on income generating loans made to women, its strong systems to track loan utilization, monitor credit and ensure collection, and its extensive risk management practices, such as lending progressively higher amounts only to members who have built up a track record of good repayment, which taken together have led to low rates of default.

Operating model focused on serving underbanked and underpenetrated markets: BBL is a commercial bank focused on serving underbanked and underpenetrated markets in India. Its historical strength lies in microfinance, with its group beginning operations in 2001 as an NGO providing microfinance services to socially and economically disadvantaged women in rural West Bengal. While bank's business model has transitioned over the years, operating as an NGO and then a non-bank finance company ("NBFC") before becoming a bank, the provision of micro loans to women has remained the core focus.

Valuation: The Bank is bringing the issue at p/b multiple of 4.9-4.93 on post issue book value at price band of Rs 370-375/share. Bank with its operating model focused on serving underbanked and underpenetrated markets has consistent track record of growing a quality asset and liability franchise with extensive, low cost distribution network & customer-centric approach and experienced and professional team, backed by strong independent board. Hence, we recommend "Subscribe" on issue.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

IRCTC shares to list on Monday - October 14, 2019

IRCTC'S IPO to open on Monday, September 30, 2019 with Price Band of Rs. 315 - Rs. 320 per share

Alpahlogic Techsys IPO oversubscribed 1.18 times on the final day of bidding

Alphalogic Techsys IPO receives overwhelming response, oversubscribed on second day of bidding

Start-up IPO Alpahlogic Techsys subscribed 64% On the First day of bidding

India's First Start-up IPO Opens today

Alphalogic Techsys IPO now to open in Aug 26th, 2019

Alphalogic Techsys Limited IPO to open on August 23, 2019

Alphalogic Techsys Limited to be the First Company to be Listed on BSE Startup Platform

Ujjivan Small Finance Bank Ltd files DRHP with SEBI for IPO

Global solar EPC major Sterling and Wilson Solar's Rs 3,125 cr IPO opens on August 6, 2019

Tamil Nadu - based Annai Infra Developers Ltd. gets SEBI approval to float IPO

Maharashtra Finance Minister Unveils DRHP of Alphalogic Techsys Limited for Rolling Out its IPO

K.P.R. Agrochem IPO withdrawn: Angel Broking

Shyam Steel Industries Limited files DRHP for IPO

White Organic Retail Ltd IPO opens on BSE SME platform

TN-based Annai Infra Developers Limited files document for IPO float

Rail Vikas Nigam Limited's IPO to open on Friday, March 29, 2019

Humming Bird Education IPO fully subscribed

Humming Bird Education IPO Opens on March 15

MSTC Limited's IPO to open on Wednesday, March 13, 2019

Anmol India Ltd IPO fully subscribed on Day 3

KPI Global Infrastructure's Rs. 40 crore mops subscription of Rs. 436 Crore

Initial Public Offer: Garden Reach Shipbuilders & Engineers - Kotak

Initial Public Offer: Dinesh Engineers Ltd - Kotak

Subscription for Kritika Wires Ltd IPO open

Garden Reach Shipbuilders & Engineers Ltd IPO extended, price band revised

IPO of Spectrum Electrical Industries Limited Opens on September 17, 2018

Ahlada Engineers IPO opens for subscription on Sep 11, 2018

Rajshree Polypack Ltd NSE SME IPO to open for subscription on Sep 10, 2018

Marquee investor, Sunil Singhania's Abakkus Growth Fund - 1 invests in Rajshree Polypack Limited as Anchor Investor

Equity shares of CreditAccess Grameen Limited to list on Aug 23, 2018

TCNS Clothing Company Ltd to list on July 30, 2018

HDFC AMC IPO receives subscription of 83.04 times

HDFC Asset Management Co - IPO Note - Angel Broking

TCNS Clothing Company Limited - IPO Note - Angel Broking

Rajnish Wellness Ltd IPO to hit markets on June 25, 2018

Varroc Engineering Limited IPO to open for subscription on June 26, 2018

RITES Limited IPO receives overwhelming response from investors

Fine Organic Industries Limited IPO receives subscription of 8.99 times

Varroc Engineering Ltd - IPO Note - Angel Broking

RITES Ltd - IPO Note - Angel Broking

Fine Organic Industries Ltd - IPO Note - Angel Broking

Avana Logistek Ltd files DRHP with SEBI for IPO

IndoStar Capital Finance Ltd - IPO Note - Angel Broking

IndoStar Capital Finance Limited Offer opens on May 9, 2018

IPO Note - SoftTech Engineers Ltd - Arihant Capital Markets Ltd

Hindustan Aeronautics Ltd to list on March 28, 2018

Expectations high on listing of Bandhan Bank shares tomorrow

Mishra Dhatu Nigam Limited IPO receives subscription of 1.21 times







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019