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RBL Bank IPO subscribed three times

The retail portion of the IPO has already been subscribed 3.25 times

BS Reporter  |  Mumbai 

RBL Bank’s initial public offering (IPO) of shares has been subscribed three times a day before its close. The 37.9 million-share offering had received 117 million bids, data provided by stock exchanges show. The Rs 1,200-crore IPO closes on Tuesday.

The retail (small investor) portion of the IPO has already been subscribed 3.25 times, institutional (big) investor portion has been subscribed 4.3 times and high net worth (rich) individual quota has been fully covered. Typically, most bids in an IPO come on the final day. Last week, RBL Bank had allotted 16.2 million shares at Rs 225 ...

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First Published: Mon, August 22 2016. 22:41 IST