India: RBL Bank becomes first private lender in a decade to tap IPO, eyes $181m

Photo: Ramesh Pathania/Mint

RBL Bank Ltd will sell its shares to the public in a three-day offer starting 19 August, becoming the country’s first private bank to go public in more than a decade.

The bank has set a price band of Rs.224-225 for the issue, which will raise up to Rs.1,211.2 crore at the lower end of the band. This includes a fresh issue of shares worth Rs.832.5 crore and a sale of 16.90 million shares worth Rs.378.5 crore by existing shareholders.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter