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RBL offering subscribed 70 times

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

BS Reporter  |  Mumbai 

The Rs 1,200-crore initial public offering (IPO) of RBL Bank — the first by a private sector lender in a decade — was subscribed around 70 times. The IPO generated demand worth over Rs 59,000 crore, among the highest in recent times, as it attracted bids from all three categories of investors.

The institutional investor segment was subscribed 85 times, while the high networth individual (HNI) segment saw around 198 times demand. The retail quota was subscribed 5.4 times and saw around a million applications. Market players said investors were attracted to RBL Bank’s ...

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First Published: Tue, August 23 2016. 22:44 IST