RBL Bank IPO subscribed 54% on first day

The price band for the IPO is Rs 224-225 a share

RBL Bank’s initial public offering (IPO) garnered 54 per cent subscription on Friday, the first day of the issue. The 37.9 million-share offering received 20.3 million bids, data provided by stock exchanges show.

The Rs 1,200-crore IPO closes on Tuesday. RBL Bank had on Thursday allotted 16.2 million shares at Rs 225 apiece to anchor investors, raising Rs 364 crore.  

The price band is Rs 224-225 a share. As much as Rs 832 crore of the IPO is issue of fresh equity and the remaining Rs 382 crore is offer for sale by existing investors.