MY VIEW: SUBSCRIBE FOR THE IPO
Well Fellas as per me you should go this as company has consistent increase in its PAT and has grown its business Geographically over the years and its objective of the issue also seems convincing.
OVERVIEWÂ
Incorporated in 1943 as a regional bank in Maharashtra, RBL Bank Ltd is a Mumbai India based private sector bank offering range of banking products and services to large corporations, SMEs, agricultural customers, retail customers and development banking & financial inclusion (low income) customers.
As of March 31, 2016, RBL had 197 branches and 362 ATMs spread across 16 Indian states serving over 1.9 million customers.
RBL acquired certain Indian businesses of the Royal Bank of Scotland (RBS), including the RBS’s business banking, credit card and mortgage portfolio businesses, in 2014.
Company Promoters
RBL is a professionally managed company and does not have an identifiable promoter in terms of the SEBI Regulations and the Companies Act, 2013. Consequently, it has no ‘promoter group’ nor any ‘group companies’ in terms of the SEBI Regulations.
STRENGTH
- Partnerships that expand reach in rural markets.
- Growing net interest and non-interest income.
ISSUE OBJECTIVES
The public issue comprises a fresh Issue and an offer for sale by the selling shareholders.
- The Offer for Sale
RBL Bank will not receive any proceeds from the Offer for Sale.
- Â The Fresh Issue
The proceeds from the fresh issue will be utilised towards the following objects:
- Augment capital base to meet Bank’s future capital requirements ;
- Enhance their visibility and brand name among existing and potential customers.;
- General corporate purpose.
Issue Detail:
- Â Â Issue Open: Aug 19, 2016 – Aug 23, 2016
- Â Â Issue Type: Book Built Issue IPOÂ
- Â Â Issue Size:Â Fresh Issue of [0] Equity Shares of Rs 10 aggregating up to Rs 832.50 Cr
- Â Â Offer for Sale of 16,909,628 Equity Shares of Rs 10 aggregating up to Rs [.] Cr
- Â Â Face Value: Rs 10 Per Equity Share
- Â Issue Price: Rs. 224 – Rs. 225 Per Equity Share
- Â Market Lot: 65 Shares
- Â Minimum Order Quantity: 65 Shares
- Â Â Listing At: BSE, NSE
*Note: Information above has been collected from RHP.