RBL Bank Extends Gain On Day 2; Scrip Jumps Nearly 6%

Posted By: Staff
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Shares of RBL Bank continued their gaining momentum for the second day and surged nearly 6 per cent on the Bombay Stock Exchange following over 30 per cent rally surge on its debut on Wednesday.

RBL Bank Extends Gain On Day 2; Scrip Jumps Nearly 6%

RBL Bank, the first private bank to list on bourses since YES Bank in 2005, got overwhelming response from investors as its Rs 1,200 crore initial public offering (IPO) was oversubscribed 69 times, with the qualified institutional buyers (QIBs) portion getting oversubscribed 85 times, non-institutional investors portion 198 times and retail investors portion 5.70 times.

Extending previous session rally, shares of bank gained as much as 5.84 per cent to trade at Rs 316.80 apiece on Bombay Stock Exchange.

In a similar fashion, stocks of lender rose 3.96 per cent to Rs 311.25 apiece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 28,441.33, down 10.84 points, or 0.04 per cent, at 11:55 AM.

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