New Delhi, RBL Bank today raised Rs 364 crore from anchor investors by selling shares at a price of Rs 225 apiece, a day ahead of its over Rs 1,200 crore IPO.
It would also be the first initial share sale by any private sector lender in a decade.
The company has decided to allot little over 1.61 crore shares to anchor investors at the upper price band of Rs 225 apiece, according to a filing to the stock exchanges.
By selling shares to 25 anchor investors, RBL Bank has mopped up nearly Rs 364 crore.
The anchor investors include FIL Investments Mauritius Ltd, Government Pension Fund Global, Goldman Sachs India Fund Ltd, Auburn Ltd and HSBC Global Investment Funds -- Indian Equity.
Price band for the IPO is Rs 224-225 per share. The offer opens tomorrow and closes on August 23.
Under the initial public offer, RBL Bank would raise Rs 832.50 crore through fresh shares issue and up to Rs 380.46 crore from an offer for sale by existing shareholders.
The share sale, accounting for 10-11 per cent stake, would give the bank a valuation of over Rs 12,000 crore. Yes Bank was the last private sector lender to hit the capital markets in 2005. Taking into account state-run banks as well, Punjab and Sind Bank last went public in India six years ago in 2010.
Existing investors, including Beacon India Private Equity and GPE, would sell shares through the IPO.
The Kolhapur-headquartered RBL Bank had made a pre-IPO placement of 2.5 crore equity shares at Rs 195 per share last year to CDC Group, DVI Fund, Rimco and Asian Development Bank.
With the RBI announcing on-tap licences for full-fledged banks, the number of banks hitting the markets is bound to increase as the regulations call for mandatory listing within a defined time-frame.