India: RBL Bank IPO closes, subscribed 69.57 times

Private sector lender RBL Bank Ltd (formerly Ratnakar Bank) received a stellar response to its Rs.1,211 crore initial public offering (IPO) that closed on Tuesday.

The three-day issue drew subscriptions that were 69.57 times the issue size—excluding the anchor allotment—registering the highest overall subscription among IPOs of private sector banks.

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