RBL Bank raises Rs 2,025 cr through QIP

RBL Bank on Friday said it has raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth.

In a statement RBL Bank said "it has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares."