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IPO windfall for RBL Bank staff

Employees likely to net around Rs 1,400 cr from ESOPs

Nupur Anand & Samie Modak  |  Mumbai 

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Not only private equity investors, but also about 2,500 employees of RBL Bank (formerly Ratnakar Bank) are expected to laugh their way to the bank once the private sector lender makes its stock market debut at the end of this month. As a talent-attraction-and-retention tool, RBL Bank had allotted ESOPs (employee stock ownership plans) to around two-thirds of its employees, including many in the lower rung.

The lender’s Rs 1,150-crore initial public offering (IPO), priced in a range of Rs 224 to Rs 225 per share, opens next week. The bank has issued ESOPs through three different plans ...

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First Published: Thu, August 11 2016. 00:56 IST
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