NEW DELHI: The initial public offering by RBL Bank kicked off on Friday, with the issue receiving bids for 66 per cent of the issue size by 5:30 pm on Day 1.
As per data available with BSE and NSE, investors bade for 2.5 crore shares against the total issue size of 3.79 crore shares. The issue was seeing a good response from retail individual investors (RIIs), who bade for 76 per cent of the quota limit in the initial hour. The quota for qualified institutional buyers (QIBs) was susbcribed 66 per cent. The issue will be closed on Tuesday next week.
The bank had on Thursday fetched Rs 364 crore by issuing shares to 28 anchor investors at the upper price band of Rs 225. Mutual funds applied for 63 lakh equity shares, which was 39.02 per cent of the total anchor portion, the bank said.
Experts noted that the bank has stayed away from stressed sectors such as steel, power and infrastructure, which has helped it to maintain its asset quality at better levels compared to peers.
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