RBL Bank completes Rs 1,566 cr fund raising through preferential allotment

With this, the lender's capital adequacy has gone up to to 18.7%

Private sector lender RBL has completed its fund raising process, garnering Rs 1,566 crore through preferential allotment of shares. Baring Private Equity Asia, through its vehicle Maple II B.V.,  has invested Rs 999 crore and will hold 9.44 per cent in the lender.

ICICI Prudential Life Insurance has invested Rs 330 crore in the bank, while Gaja Capital, which has been an anchor investor in the lender since 2010, put in Rs 150 crore, and CDC Group, an RBL shareholder since March 2014, invested Rs 86 crore in the fund raising process.

With this fund raising, the lender’s capital adequacy