RBL Bank IPO oversubscribed 69.5 times, retail subscription at 5.5 times - Indian IPO Blog

Tuesday, August 23, 2016

RBL Bank IPO oversubscribed 69.5 times, retail subscription at 5.5 times

RBL Bank IPO, which was open from Aug 19, 2016, has been finally subscribed 69.51 times on an overall basis. The shares under the IPO were offered in a price band of Rs.224/- to Rs.225/- per equity share with a bid lot of 65 equity shares and in multiples thereof

The IPO was oversubscribed to the tune of 85.08 times in the QIB category and as much as a staggering 198.06 times in the category of Non Institutional Investors / HNI. The subscription received in the retail category was however, contained at 5.5 times. It is believed that this may leave some more money on the table for the retail investors when the shares list on the exchanges

RBL Bank Limited (formerly known as The Ratnakar Bank limited) is a scheduled commercial bank headquartered in the Kolhapur region of Maharashtra. Founded in August 1943, RBL is one of the oldest private sector banks in India. The Bank currently services approximately 19,00,000 customers and has a total business size of over Rs. 45,000 Crores. RBL Bank bought a part of the Indian business of the Royal Bank of Scotland (RBS), India in 2013. The deal included business of banking and credit cards and the mortgage portfolio, leading to 1.2 lakh customers of RBS, moving to RBL

The IPO is expected to be listed on the exchanges within 10-15 days. Check back this space for news on RBL Bank IPO Allotment Status and listing of shares of RBL Bank

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