RBL Bank extends gain; up 40% over issue price

The stock was up 6% to Rs 317 on the NSE in intra-day trade, extending its over 30% surge on Wednesday.

RBL Bank has moved 6% higher to Rs 317 on the National Stock Exchange (NSE) in intra-day trade, extending its over 30% surge on its debut on Wednesday. Shares of the private sector lender was trading 41% premium against its issue price of Rs 225 per share.

On Wednesday, August 31, 2016, Nomura India Investment Fund Mother Fund and Merrill Lynch Markets Singapore PTE Ltd had collectively bought 4.55 million shares or 1.2% stake in RBL Bank for Rs 130 crore through open market.

Nomura India Investment Fund Mother Fund purchased 2.38 million shares at Rs 292.68 per share and Merrill Lynch Markets Singapore PTE Ltd acquired 2.17 million shares at price of Rs 60.74 per share, the NSE bulk deal data shows. LINK

Emerging India Fund (2.25 million shares) and TVS Shriram Growth Fund (2.64 million shares) had collectively sold 4.9 million shares of RBL Bank at an average price of Rs 282.23 per share. The names of the other buyers were not immediately ascertained.

At 09:55 am, the stock was up 4% at Rs 312 on the NSE, as compared to 0.04% decline in the Nifty 50 index. A combined 8.2 million shares changed hands on the counter on the NSE and BSE.