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Shares of RBL Bank, the first private bank to hit the capital market since 2005, made a strong debut at the bourses on Wednesday. As against the issue price of ₹225, the stock opened at ₹274.2 on the NSE and rose to a high of ₹305.5. YES Bank was the last private bank to list in the capital market in 2005.
RBL Bank’s offer received a good response from all categories of investors. The IPO was subscribed close to 70 times.
Mridul Mehta, Executive Vice-President, ICICI Securities, said: “The stellar listing of RBL continues to reflect the confidence that investors have in fast-growing, well-capitalised and efficiently run financial firms in India.”
About 7.93 crore shares on the NSE and 2 crore shares on the BSE changed hands.
Bulk deal data on the BSE revealed that TVS Shriram Growth Fund sold 26.37 lakh shares at an average price of ₹289.57. Emerging India Fund sold 22.5 lakh shares at ₹274.89 on the NSE. According to NSE data, Merrill Lynch and Nomura India were buyers.
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