Shares of RBL Bank debuted on the exchanges at Rs 274.20 per share, up 22 percent from its issue price of Rs 225. It surged to Rs 282.40 in early trade. The first private lender IPO in a decade was opened for subscription between August 19-23.
The market sentiment was also boosted after the RBI's optimistic statement, saying the economy is likely to grow at 7.6 percent in FY17, though it quashed hopes of further repo rate cut in its annual report yesterday.
The public issue, which opened during August 21-23, comprised of fresh issue of shares worth Rs 832.50 crore and offer for sale worth Rs 380.46 crore by selling shareholders.
Aditya Birla Money has come out with its report on RBL Bank IPO. The research firm has recommended to "Subscribe" the IPO in its research report as on August 19 , 2016.
GEPL Capital has come out with its report on RBL Bank IPO. The research firm has recommended to "Subscribe" the IPO in its research report as on August 19 , 2016.
Dipan Mehta, Member BSE & NSE believes that the market and stocks have been flying and it is time to wait and watch. The risk reward is currently not in favour of investors.