RBL Bank is all set to sell its shares to the public with an aim to raise around Rs 1211 crore. The bank’s three day IPO will start on 19 August. RBL Bank will become India’s first private bank to go public in more than a decade. The bank has set a price band of Rs 224-225 for the issue, which will raise up to Rs 1211.2 crore at the lower end of the band. This includes a fresh issue of shares worth Rs 832.5 crore and a sale of 16.90 million shares worth Rs 378.5 crore by existing shareholders. The fund-raising aims to raise the bank’s capital base for growth and comply with incremental capital needs under the Basel-III norms as well as Reserve Bank of India norms.
