New Delhi, Mar 15:  Bandhan Bank's Rs 4,473 crore initial public offer was subscribed 42 per cent on the first day of bidding today. The portion reserved for qualified institutional buyers (QIBs) was oversubscribed 1.26 times, non institutional investors 1 per cent and retail investors 12 per cent.

The IPO received bids for 3,50,05,200 shares against the total issue size of 8,34,96,347 shares, data available with the NSE till 1730 hrs showed. Kolkata-based Bandhan Bank yesterday raised Rs 1,342 crore from anchor investors and is looking to raise a total amount of Rs 4,473 crore from the public issue of its shares.

The IPO is of up to 119,280,494 shares comprising fresh issue of up to 97,663,910 and an offer for sale of up to 21,616,584 shares (including anchor portion of 35,784,147 shares). The issue, which would close on March 19, is in a price band of Rs 370-375.

Kotak Mahindra Capital Company, Axis Capital, Goldman Sachs (India) Securities, JM Financial and JP Morgan India are managing the issue. The equity shares are proposed to be listed on BSE and NSE.