The board of Bandhan Bank has appointed Goldman Sachs, JPMorgan Chase, Axis Bank, JM Financial and Kotak Mahindra Bank as lead managers for its proposed initial public offering (IPO). “The board of Bandhan Bank has decided to appoint Goldman Sachs Group Inc, JPMorgan Chase & Co, Axis Bank, JM Financial and Kotak Mahindra Bank as lead managers to manage its proposed initial public offerings. Kotak Mahinda Bank will act as the left lead in the issue,” the bank said in a statement on Tuesday.

The issue size, its timing and all other aspects of the offer is not known as yet. The bank had posted Rs 1,111.95 crore net profit for the FY 18, according to a press release issued by the bank. The bank operates across 33 Indian states and Union Territories through a network of 844 branches catering to more than 11 million customers. Since its launch, the bank has collected deposits more than Rs 24,500 crore and outstanding loan book are Rs 21,235 crore, the release said.

Bandhan Bank was started as a microfinance company in 2001 and converted to a bank in 2015. The Kolkata-headquartered bank has two divisions — general banking and micro banking, offering a range of retail financial solutions, including a variety of savings and loan products.

“We will have to do it within three years of starting the banking operations to comply with the RBI guidelines. I will not defer the launch of IPO, but timing of its launch will depend on the market conditions,” Chandra Shekhar Ghosh, managing director and chief executive officer, Bandhan Bank, had told reporters in August at an event to celebrate the bank’s second foundation day.

Bandhan Bank’s plans to go public comes at a time when the issues of RBL Bank and small finance banks—AU Small Finance Bank, Ujjivan Financial Services and Equitas Holdings have given handsome returns to investors.

RBL Bank which got listed in August 2016 has seen its share price rise by 139% from its issue price of `225. Shares of Ujjivan and Equitas have gained 75% and 54%, respectively since their listings last year.