Shares of RBL Bank made a splendid debut on the bourses today, rising sharply by 33 per cent over the issue price of Rs 225, after the company saw robust response for its over Rs 1,200 crore IPO last week.
The stock ended the day at Rs 299.30, up 33 per cent after listing at Rs 273.70, a gain of 21.64 per cent over the issue price on BSE. Intra-day, it surged 35.55 per cent to Rs 305.
On NSE, it zoomed 33 per cent to close at Rs 299.40.
In terms of volume, 204.75 lakh shares of the company were traded on BSE and over 7 crore shares changed hands at NSE during the day.
The company commands a market valuation of Rs 11,068.38 crore.
The company's IPO -- the first by a private bank in a decade -- was oversubscribed a staggering 69.62 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 85.08 times, non institutional investors chunk 198.06 times and retail investors portion 5.70 times, as per data available with the NSE.
Price band for the IPO was fixed at Rs 224-225 per share, which was opened from August 19-23.
The offer collected around Rs 60,000 crore. It attracted over 1.02 million applications.
Yes Bank was the last private lender to hit the capital markets in 2005. Taking into account state-run banks as well, Punjab and Sind Bank last went public six years ago in 2010.
Kotak Mahindra Capital, Axis Capital, Citigroup, Morgan Stanley were the global merchant bankers for the deal while HDFC Bank, ICICI Securities, IDFC Securities, IIFL and SBI Caps were the lead managers for the local market.
In the stock market, the Sensex jumped 109.16 points to end at 28,452.17.
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