Capital raised via IPO to help grow biz; aim to keep costs in check: Bandhan Bank

In what is touted as one of the biggest banking initial public offering (IPO) in recent times, Bandhan Bank aims to raise around Rs 4500 crores through it. The IPO opens today.

The Kolkata-based private sector lender Bandhan Bank has opened for subscription on Thursday, with a price band of Rs 370-375 per share

Speaking to CNBC-TV18, Chandrashekhar Ghosh, MD and CEO, Bandhan Bank said the capital raised will give strength to the bank to grow its business.

He going forward as well he would strike to keep the costs under control to maintain margins because margins for them are calculated on basis of cost and income. Cost of infrastructure and technology will have to be managed well, he said.

Bandhan Bank which began in 2001 as an NGO providing micro finance services to lot of socially backward people and now they plan to raise money in the capital markets.