RBL Bank, the Kolhapur-based private sector lender, will be entering the primary market with its initial public offering (IPO) on Aug.19, 2016. The bank plans to raise about Rs. 1,200 crore during the five-day offer period, as is evident from details now available.
The bank had filed the draft prospectus with the regulator on June 23, 2015.
Kolhapur-based RBL Bank had raised Rs. 488 crore in pre-IPO preferential placement of shares last December at Rs. 195 per share.
The bank was incorporated in 1943 as Ratnakar Bank.
The exercise was in accordance with its IPO document filed with the Securities and Exchange Board of India (Sebi) in June 2015 and the shares were placed with international investors, including the Asian Development Bank (ADB) and CDC Group Plc.
Here are the details of RBL Bank IPO:
- Price band: Rs. 224-225 per share
- Issue opens on Aug. 19 and closes on Aug. 23
- Bid lot: 65 equity shares or multiples thereof
- Overall issue size: 5,39,09,628–5,40,74,806 shares
- Face value: Rs. 10
- Retail portion: 35 percent of the public issue (1,88,68,370 - 1,89,26,183 shares)
- Listing on BSE and NSE
Profile of the bank:
RBL Bank had 197 interconnected branches and 362 interconnected ATMs spread across 16 Indian states and union territories as of March 31, 2016.
The bank earned a net profit of Rs. 292.48 crore on revenues of Rs. 3,234.85 crore for the financial year 2015-16, up from Rs. 208.45 crore and Rs. 2,356.5 crore in the preceding financial year.
The diluted EPS was Rs.9.43 for 2015-16 as against Rs. 7 in 2014-15 (Diluted earnings per share reflect the potential dilution that could occur if contracts to issue equity shares were exercised or converted during the period).
Deposits and advances stood at Rs. 24,348 crore and Rs. 21,229 crore, respectively, as of March 31, 2016.
Net non-performing assets (NPAs) as percentage of total advances rose to 0.59 percent from 0.27 percent at the end of financial year 2014-15.