RBL Bank extends rally post listing; m-cap crosses Rs 10,000 crore

The stock moved higher to Rs 305, a 36% premium against its issue price of Rs 225 per share, after listing at Rs 274.

RBL Bank has moved higher to Rs 305, a 36% premium against its issue price of Rs 225 per share, after making a strong debut on the bourses. Shares of private sector lender listed at Rs 274, a 22% higher against its issue price on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

At 11:35 am, the stock was trading at Rs 295 on the BSE. With surge in stock price, the market capitalization of RBL Bank crossed Rs 10,000 mark to Rs 10,911 crore, the BSE data shows.

RBL Bank is currently stands ahead of Bank of India (Rs 10,984 crore), Indian Bank (Rs 10,965 crore), Union Bank of India (Rs 9,806 crore), City Union Bank (Rs 7,971 crore) and Syndicate Bank (Rs 6,208 crore) in banking sector rank in terms of market capitalization, data shows.

RBL Bank, is top-traded counter on the bourses, saw a combined turnover of Rs 2,037 crore on the NSE and BSE. About 71.43 million equity shares representing 19% of total equity of the bank change hands on both the exchanges.