 "RBL Bank's up to Rs 1,213-cr IPO fully subscribed")
Private sector lender RBL Bank's up to Rs 1,213 crore initial public offering was fully subscribed on the second day of the sale on Monday, stock exchange data showed.
As of 11:00 am the IPO, the first by an Indian bank since 2010, had received bids for 39.1 million shares, or 1.03 times the 37.9 million shares on offer. The sale closes on Tuesday.
RBL is selling new shares in a price band of Rs 224 to Rs 225 per share to raise up to Rs 833 crore to boost its capital base. Some of its shareholders are also paring their stakes by selling up to 16.9 million shares in the IPO to raise up to Rs 380 crore.
Cornerstone investors last week bought Rs 364 crore worth of shares as part of the IPO.