Shares of RBL Bank – formerly Ratnakar Bank – made an impressive debut on the stock exchanges on Wednesday gaining more than 30 per cent compared with its issue price. On BSE, the shares opened at Rs.273.70 and finally settled at Rs.299.30, a 33.02 per cent gain over its issue price of Rs.225. The surge in the share price post-listing has pegged the market capitalisation of the bank at Rs.11,068.38 crore. On the National Stock Exchange, it closed at Rs.299.95.
“The stellar listing of RBL continues to reflect the confidence that investors have in fast growing, well capitalised and efficiently run financial firms in India,” said Mridul Mehta, Executive Vice President, ICICI Securities. “The RBL strategy of focusing on specific growth areas like financial inclusion through microfinance and technology-led payment services coupled with deposit growth through branch expansion, has clearly resonated well with the investors,” he said.
