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RBL Bank files for IPO

RBL Bank has filed draft papers with SEBI for an IPO planning to raise Rs 1,100 crore from the market. The issue comprises fresh issue of equity shares worth this amount as also sale of up to 17,568,408 shares held by existing shareholders including Beacon India Private Equity Fund and GPE (India). The bank’s Red Herring prospectus said the proceeds of the IPO would be used to shore-up the equity capital base, to meet future capital requirements and to ensure compliance with Basel III and other RBI guidelines. The issue is being managed by Kotak Mahindra Capital Company, Citigroup Global Markets India, Axis Capital , HDFC Bank , ICICI Securities, IDFC Securities, IIFL Holdings , Morgan Stanley India Company and SBI Capital Markets.

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