RBL Bank's up to Rs 1,213 cr IPO Fully subscribed

The initial public offering of private sector lender RBL Bank was fully subscribed till noon on the second day of the issue today. This is the first initial share sale by any private sector lender in a decade. The public issue received bids for 5.41 crore shares as against 3.79 crore on offer, generating a subscription of 1.43 times, as per the information available with the stock exchanges till 1230 hours. 

 

The company, last week, raised Rs 364 crore by allotting over 1.61 crore shares to anchor investors at Rs 225 apiece. The anchor investors include FIL Investments Mauritius Ltd, Government Pension Fund Global, Goldman Sachs India Fund, Auburn Ltd and HSBC Global Investment Funds - Indian Equity. 

 

Price band for the IPO is Rs 224-225 per share. The offers would close tomorrow. Under the initial public offer, RBL Bank would raise Rs 832.50 crore through fresh shares issue and up to Rs 380.46 crore from an offer for sale by existing shareholders. 

 

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