The stock listed at Rs 274 on the NSE, a 22% premium against its issue price of Rs 225 per share.
Banks has recently become first private bank to closed its IPO
RBL Bank will get around Rs 830 crore from the IPO, which it will use to augment its tier-I capital to help fuel future growth
The retail portion of the IPO has already been subscribed 3.25 times
It is selling new shares in a price band of Rs 224 to Rs 225 per share to raise up to Rs 833 crore to boost its capital base
The price band for the IPO is Rs 224-225 a share
It is very likely that the bank's IPO will sail through if the pricing is right and promoters leave something on the table for new investors
Here's what leading brokerages across the country suggest
The lender allotted 161.7 mn shares at Rs 225 apiece to investors
Shares are commanding 20% premium
The IPO will be open for public subscription on August 19 and close on August 23
The bank has already raised Rs 488 crore through a pre-IPO placement
The move paves the way for the initial public offering of the private-sector lender
Lender will need to offer exit to thousands of investors
Through the branch, RBL will offer startups banking services around foreign exchange, remittances and cash management