RBL Bank to make stock market debut on Wednesday

Banks has recently become first private bank to closed its IPO

RBL Bank — which recently closed its initial public offer, the first by a private bank in a decade — would make its stock market debut on Wednesday.

The company's IPO was oversubscribed a staggering 69.62 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 85.08 times, non institutional investors chunk 198.06 times and retail investors portion 5.70 times, according to data available with the NSE.

Price band for the IPO was fixed at Rs 224-225 per share, which was opened from August 19-23.

The offer collected around Rs 60,000 crore. It attracted over 1.02 million applications.

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 deal while HDFC Bank, ICICI Securities, IDFC Securities, IIFL and SBI Caps were the lead managers for the local market.