Quant Money Managers gets RBI nod to acquire up to 9.98% in RBL Bank

Stake can be acquired through various schemes by mutual fund subsidiary of the investment management firm

Quant Money Managers has got the banking regulator's approval to acquire an aggregate holding of up to 9.98 per cent of the paid-up share capital or voting rights in RBL Bank within May 12, 2025.

The stake can be acquired through various schemes of Quant Mutual Fund, a subsidiary of the investment management firm. As of May 10, Quant Money held 4.68 per cent of RBL Bank's equity share capital.

The Reserve Bank of India granted the approval in response to the application made by Quant Money. An exchange filing by RBL Bank said the approval is subject to regulatory approvals.

"The aforesaid approval granted by the Reserve Bank of India is subject to the conditions mentioned therein including compliance with the relevant provisions of the Banking Regulation Act, 1949, the Reserve Bank of India’s Master Direction and Guidelines on Acquisition and Holding of Shares or Voting Rights in Banking Companies dated January 16, 2023 (as amended from time to time), provisions of the Foreign Exchange Management Act, 1999, regulations issued by the Securities and Exchange Board of India, and any other statutes, regulations and guidelines, as applicable," the filing noted.

Quant Mutual’s stake in the private sector lender should not increase beyond 9.98 per cent of the paid-up share capital or voting rights at all times. Also, if the aggregate holding falls below 5 per cent, prior approval from the Reserve Bank of India will be required to increase it to 5 per cent.

At 10:23 am, shares of RBL Bank traded 0.65 per cent up at Rs 246.55 on the National Stock Exchange, Tuesday.