rbl bank ipo bse listing stock share bank public issue offer retail price band listing subscription oversubscription nse bse
The Rs. 1,200 crore IPO of private sector lender RBL Bank closes on Tuesday (August 23). A cashier counts currency notes inside a bank in Lucknow July 16, 2009 (representational image).Reuters file

RBL Bank public issue has received positive response, going by the data available with stock exchanges. The private sector lender's Rs. 1,200 crore initial public offering (IPO) has been oversubscribed as of Monday, a day before the issue closes.

The price band for the shares being offered is Rs. 224-225 per equity share of face value of Rs. 10 each. The issue comprises 16.90 million shares being offloaded by existing investors (offer for sale, or OFS) and fresh issue of 37.16 million shares.

The bank had received bids for 39.1 million shares or 1.03 times the 37.9 million shares on offer, CNBC-TV18 reported, citing stock exchange data as of 11 a.m. on Monday.

On Friday evening, the first day of the public issue, the subscription was 0.66 times with retail portion evincing higher interest at 0.86 times or 16.32 million shares.

RBL Bank was incorporated in 1943 as Ratnakar Bank.

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
  • The objective of the issue is to meet future Tier-I capital base requirement to ensure compliance with Basel-III norms and other RBI guidelines

RBL Bank had raised Rs. 488 crore in pre-IPO preferential placement of shares last December at Rs. 195 per share. The bank had 197 interconnected branches and 362 interconnected ATMs spread across 16 states and union territories as of March 31, 2016.

It 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.