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RBL Bank IPO

RBL Bank (formerly Ratnakar Bank) is one of India’s fastest growing private sector banks. The bank offer a comprehensive range of banking products and services customized to cater to the needs of large corporations, small and medium enterprises (SMEs), agricultural customers, retail customers and development banking & financial inclusion (low income) customers. As of March 31, 2016, RBL Bank had 197 interconnected branches and 362 interconnected ATMs spread across 16 Indian states and union territories serving approximately 1.90 million customers.

With operations started in 1943 as Ratnakar Bank, the company has a long history in India. While it started as a small, regional bank in Maharashtra with just two branches in Kolhapur and Sangli, it has now transformed into a national player. Much of this transformation took place since 2010 and under this growth strategy, RBL Bank acquired certain Indian businesses of the Royal Bank of Scotland (RBS) in FY2014. The acquisition included RBS’s business banking, credit card and mortgage portfolio businesses. In the last six years, RBL Bank has raised four rounds of funding and roped in several prominent investors such as CDC Group, Asian Development Bank (ADB), International Finance Corporation (IFC), Norwest Venture Partners (NVP), and domestic private equity fund Faering Capital India.