The much-awaited RBL Bank initial public offering will open for subscription on August 19. The first private lender IPO in a decade aims to raise over Rs 1,200 crore through IPO which closes on August 23. Price band is fixed at Rs 224-225 for share sale.
The plan includes raising up to Rs 832.50 crore through the issue of fresh shares and up to Rs 380.46 crore in an offer for sale by existing shareholders. The share sale, accounting for 10-11 per cent stake, will give the bank a valuation of over Rs 12,000 crore.
So, should you bet your money? Most analysts are upbeat on the issue and recommend subscribing it. Analysts say RBL Bank issue is fairly priced . With a bullish stance, Prabhudas Lilladher says that the bank has stayed away from stressed sector lending like steel/power/infra which has helped it to maintain its asset quality at better levels compared to peers despite 60 percent loans in corporate & MSME.
It is positive that RBL continues to focus on retail & working capital needs of corporate which will hold up asset quality and improve margins. Post issue, at upper band of Rs225, RBL trades at 2.1x FY16 ABV of Rs 108.
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