RBL Bank IPO oversubscribed 70 times on great response

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26 Aug, 2025 12:21

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Moneycontrol BureauThe Rs 1,200 crore public issue of RBL Bank, erstwhile Ratnakar Bank, has received overwhelming response from investors as it is oversubscribed 69.62 times on Tuesday, the last day of subscription.

The IPO received bids for 263.87 crore equity shares against the total issue size of 3.79 crore shares (excluding anchor investors' portion), according to the data available on the exchange.The reserved portion of qualified institutional buyers (QIBs) is oversubscribed 85.08 times while the non-institutional investors' portion subscribed 198.06 times. The quota reserved for retail investors saw oversubscription of 5.70 times.

RBL Bank, which is the first private sector lender came out with initial public offering in a decade, aims to raise Rs 832.50 crore through fresh issue of shares.

 It also intends to raise up to Rs 380.46 crore via offer for sale by selling shareholders like Elephant India Finance, Capvent India Private Equity Fund, Gaja Trustee Company (on behalf of Gaja Capital India Fund I), Beacon India PE Fund, GPE India etc.

The company, last week, already raised Rs 364 crore from anchor investors at a higher end of price band of Rs 224-225 per share.

The last private sector lender that hit capital markets was Yes Bank in 2005 and in the public sector, Punjab and Sind Bank was the one that went public in 2010.

The Kolhapur-headquartered RBL Bank had made a pre-IPO placement of 2.5 crore equity shares at a price of Rs 195 per share in 2015 to CDC Group, DVI Fund Mauritius, Rimco (Mauritius) and Asian Development Bank.

Equity shares are proposed to be listed on the Bombay Stock Exchange and National Stock Exchange.

Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India and Morgan Stanley India are global co-ordinators as well as book running lead managers for the issue. Other book running lead managers are HDFC Bank , ICICI Securities, IDFC Securities, IIFL Holdings and SBI Capital Markets.