India’s RBL Bank readies domestic IPO

The Kolhapur-headquartered lender is set to become the sixth private sector bank to list on a local stock exchange.

India's RBL Bank plans to raise Rs12.1 billion $182 million through the sale of existing and new shares in a domestic initial public offering, providing yet another lift to the already robust equity deal flow in the country this year.

The listing of shares in the Kolhapur-headquartered lender was announced on Wednesday and is slated for August 31.

The IPO will make RBL only the sixth listed private-sector bank in a country where most such banks are majority-owned by the government.

It will join Axis Bank, Yes Bank, HDFC Bank, Indusind Bank and Kotak Mahindra Bank among listed private sector banks,...

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