MUMBAI (Reuters) - Private-sector lender RBL Bank gained as much as 25.5 percent in its market debut on Wednesday, after the lender's initial public offering of shares raised $182 million in the nation's first bank IPO in six years.
Shares in RBL Bank were trading at 281.30 rupees by 0431 GMT, compared with the IPO price of 225 rupees. The stock hit a high of 282.40 rupees.
The lender raised 8.33 billion rupees ($124 million) in the IPO to boost its capital, while some of its shareholders pared their holdings to raise about 3.8 billion rupees.
The IPO had been subscribed nearly 70 times.
($1 = 67.0500 Indian rupees)
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(Reporting by Devidutta Tripathy and Arnab Paul; Editing by Sherry Jacob-Phillips)