MUMBAI (Reuters) - Indian private sector lender RBL Bank's initial public offering next week seeks to raise up to 12.13 billion rupees ($182 million) in what will be the nation's first bank IPO since 2010.
The lender will sell new shares in a price band of 224 rupees to 225 rupees per share to raise up to 8.33 billion rupees to boost its capital base, it said on Wednesday.
Some of its shareholders are also paring their stakes by selling up to 16.9 million shares in the IPO that opens on Aug. 19 and closes on Aug 23, according to an offer document.
RBL Bank, which had assets worth about $5.9 billion as of March, expects its core capital ratio to rise to more than 14 percent after raising funds in the IPO from 11.1 percent at end-March, executives said.
Citigroup, Morgan Stanley and India's Kotak Mahindra and Axis Capital are among the nine banks managing the share sale.
The IPO is the first by an Indian bank since state-run Punjab & Sind Bank
($1 = 66.7200 Indian rupees)
(Reporting by Devidutta Tripathy; Editing by Subhranshu Sahu)
