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RBL Bank IPO in 8 to 9 months

RBL Bank plans to launch its IPO in the next 8 to 9 months, said the bank’s MD Vishwavir Ahuja. He said the quantum of the offer is yet to be decided but this will be finalized in the next few months. The bank has been able to build scale and size in the last four years so that it gets right valuation, he said. Capital is required for the next phase of operation as the bank has already done with transformation stage, he said. The bank has put in place technology and risk management processes. It now has more than 6 lakh customers and has a total business size of over Rs. 26,000 crore. Its total deposits as at the end of September 2014 were Rs 12,000 crore while advances stood at Rs 14,000 crore. The bank got capital support of about Rs 1500 crore from global and domestic investors in the last three years – including CDC Group and Asia Capital and Advisors, besides IFC and Gaja Capital Partners.

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