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RBL Bank formerly known as Ratnakar Bank, headquartered in Kolhapur is coming up with an IPO, and it will be the first private sector bank to come up with an IPO in a decade. The last private sector bank to launch an Initial Public Offering (IPO) in India was Yes Bank Ltd., which raised Rs.315 crores in July 2005. Bank has set a price band of Rs.224-225 for the issue, which will be raised up to Rs.1,211.2 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 is aimed at increasing the bank’s capital base for growth, and to comply with incremental capital needs under the Basel-III norms as well as Reserve Bank of India norms. Kotak Mahindra Capital Co. Ltd., Citigroup Global Markets India Pvt. Ltd., Axis Capital Ltd., Morgan Stanley India, ICICI Securities Ltd., IIFL Holdings Ltd., IDFC Securities Ltd., and SBI Capital Markets Ltd., are managing the share sale. In 2015-16, RBL has reported a revenue of Rs.3,234.85 crores, up from Rs.2,356.49 crores a year ago; and a profit of Rs.296.8 crores, up from Rs. 208.45 crore a year ago. RBL had filed its draft prospectus on June 23, 2015, which was cleared after 13 months. Shares will open for subscription on Aug 19.

Yes Bank To Raise Rs.6885 Crores Through A QIP

Private sector lender, Yes Bank, is all set to raise around 6885 crores in the next 7 months through a Qualified Institution Placement (QIP). Bank has already started approaching large investors across geographies and the QIPs are fairly expected to be well diversified, with a fair representation of the domestic investors. On the other hand, Yes Bank has reported a 32.8 per cent rise in net profit to Rs.731.8 crore during the first quarter ended June 30, as compared to Rs.551.20 crore in the year-ago period. Bank in May this year, had received the approval of Cabinet Committee on Economic Affairs to increase foreign investment limit to 74 per cent. The approval to raise the limit was obtained without any sub-limits for investment by way of issue of non-equity shares and/or other permissible instruments to eligible non-resident investors. Bank has appointed Goldman Sachs and Morgan Stanley as lead bankers for the issue. Earlier in 2014, bank had raised $500 million through a QIP. Current issue of the bank is the second largest QIP issued by a bank; earlier in Jan 2014 SBI had issued QIPs amounting to Rs.8032 crores.

Gitanjali Gems To Raise Upto Rs.110 crores

Company on Aug 11, has informed BSE, that the board of the company has approved to "raise funds upto Rs.110 crores by issue of convertible warrants to promoters/ promoter groups/persons other than promoters through preferential allotment". On July 22, company had informed bourses that it had issued 2,35,47194 warrants of Rs.10 each at a premium of Rs.62.39 to persons other than promoters in accordance with SEBI (Issue of Capital and Disclosure Requirement) Regulations, 2009.

However 30,51,640 warrant holders did not exercise the option, therefore warrants stand cancelled and the entire subscription money received by the company for subscription of warrants stands forfeited. Gitanjali Group is one of the largest branded jewellery retailers in the world. It is headquartered in Mumbai, India. Gitanjali sells its jewellery through over 4000 points of sale and enjoys a market share of over 50 per cent of the overall organised jewellery market in India.