MUMBAI (Reuters) - Private-sector lender RBL Bank gained as much as 25.5 percent in its market debut on Wednesday, after the lender's initial public offering of shares raised $182 million in the nation's first bank IPO in six years.
Shares in RBL Bank were trading at 281.30 rupees by 0431 GMT, compared with the IPO price of 225 rupees. The stock hit a high of 282.40 rupees.
The lender raised 8.33 billion rupees ($124 million) in the IPO to boost its capital, while some of its shareholders pared their holdings to raise about 3.8 billion rupees.
The IPO had been subscribed nearly 70 times.
($1 = 67.0500 Indian rupees)
(Reporting by Devidutta Tripathy and Arnab Paul; Editing by Sherry Jacob-Phillips)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app