NEW DELHI : After a 11-year hold up, private part moneylender RBL (recent Ratnakar Bank) will hit the essential business sector with a first sale of stock (IPO) on Friday.
The IPO, the primary managing an account issue since Yes Bank in 2005, will raise up to Rs 1,216 crore by offering 5.4 crore offers at the upper end of the Rs 224-225 value band.
The IPO comprises of a new issue of shares, summing up to Rs 832.50 crore, other than an offer available to be purchased (OFS) of up to 1.69 crore bunnies by a few existing shareholders.
The loan specialist, which made a pre-IPO situation of 25 crore value shares to grapple financial specialists at a cost of Rs 195 each route back on December 16, 2015, saw a postponement in the issue reseller's exchange controller Sebi issued a show-cause notice on the bank's divulgences in the draft red herring outline.
Counting both essential and optional deals, the bank would cut 15 for each penny stake, esteeming the loan specialist at about Rs 8,100 odd crore.At the upper end of value band, the bank is evaluated at 1.75 times FY18E book esteem and 13.8 times FY18E EPS, specialists said.