The shares of private sector lender RBL, formerly known as Ratnakar Bank, on Wednesday debuted on the National Stock Exchange(NSE) at Rs 274.2 per share, a 22% premium over the offer price.
The price band for RBL's Initial Public Offer (IPO), the first by a private bank in a decade, was fixed at Rs 224-225 per share. The IPO opened for subscription on August 19 through August 23, with an issue price of Rs 225 a share.
The company's IPO was subscribed a staggering 70 times over.
Yes Bank was the last private lender to hit the capital markets in 2005. Taking into account state-run banks as well, Punjab and Sind Bank last went public six years ago in 2010.
Kotak Mahindra Capital, Axis Capital, Citigroup, Morgan Stanley were the global merchant bankers for the read more..
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