RBL Bank Appointed As Collecting Banker To First IPO From GIFT IFSC

RBL Bank on Tuesday said it has been appointed as one of the collecting bankers to the proposed Initial Public Offering (IPO) of XED Executive Development Ltd, the first public issue to be launched from India's International Financial Services Centre (IFSC) at GIFT City.

The $12 million 100% book-built issue opened on March 16 and will close on March 24, 2026, with listing expected later on NSE IFSC and India INX, RBL Bank said in a statement.

As a designated collecting banker for the issue, RBL Bank will facilitate the receipt and processing of subscription funds from eligible non-resident and international investors participating in the USD-denominated offering, it said.

RBL Q3 Highlights

RBL Bank posted a sharp rise in profit for the December quarter, with net profit jumping to Rs 214 crore from Rs 32.6 crore in the corresponding period last year.

Net interest income increased 4.6% year-on-year to Rs 1,657 crore, compared with Rs 1,585 crore a year ago.

Asset quality improved on a sequential basis. Gross non-performing assets declined to 1.88% from 2.32% in the September quarter, while net NPAs eased to 0.55% from 0.57% sequentially. Provisions, however, rose 28% year-on-year to Rs 639 crore, compared with Rs 500 crore in the year-ago period.

According to the bank's quarterly business update, total deposits stood at Rs 1.19 lakh crore as of December 31, 2025, up 12% year-on-year from Rs 1.06 lakh crore and 3% sequentially from Rs 1.16 lakh crore.

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Gross advances grew 13% year-on-year to Rs 1.04 lakh crore, compared with Rs 92,631 crore a year ago, and were 2% higher sequentially from Rs 1.02 lakh crore.

Other income, excluding the one-off gain from the sale of a strategic equity investment in Q3 FY25, rose 13% both year-on-year and quarter-on-quarter to Rs 1,050 crore. Core fee income remained robust, increasing 10% YoY and 3% QoQ to Rs 959 crore.

Commenting on the performance, R Subramaniakumar, Managing Director and CEO of RBL Bank, said the December quarter marked another period of stable and consistent operational performance, with secured retail advances and commercial banking driving asset growth, while granular deposits supported the liability side. He added that collection efficiency in the bank's JLG business improved materially during the quarter, with disbursal run rates nearing normalised levels.

Subramaniakumar also said the bank's core operating engine remains robust, anchored in disciplined execution, a profitable balance sheet and sharper cross-selling to its existing customer base. During the quarter, RBL Bank received shareholder approval for capital infusion by Emirates NBD PJSC and for the amalgamation of its Indian branches with RBL Bank, and is now awaiting regulatory approvals.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)