The public issue from RBL Bank received excellent response and was oversubscribed 69.62 times. The issue comprised of a fresh issue of 832.5 crs and an offer for sale of 1.69 cr shares. The price band was Rs 224-225. The company had allotted 1.61 cr shares to 25 anchor investors comprising of 52 entities. The number of anchor seems large but it must be considered in the light of the fact that the company had appointed nine merchant bankers to handle the issue.

The full details of subscription is given below:

There has been an active grey market in the share and the HNI subscription is proof of the same. Funding has largely happened at a rate of 5% and for a duration of seven days. This brings the cost per share to Rs 42 which is just about the grey market premium. Any weakness in the secondary market during the week would also reflect on the premium of RBL. Keep your fingers crossed and hope that the premium holds at least till Wednesday when the share is expected to list.