RBL Bank to raise Rs 826 cr via preferential allotment to five investors

Board agrees to allot 24.24 mn shares at Rs 340.70 apiece; RBL had already told shareholders at AGM that it would raise equity capital up to Rs 3,500 cr

Private sector lender RBL Bank is raising Rs 825.79 crore in equity capital from five investors by issuing shares through preferential allotment. The investors are Bajaj Finance, East Bridge Capital Master Fund I, FEG Mauritius FPI, Ward Ferry Management-controlled hedge fund WF Asian Reconnaissance Fund, and Asia-focused stock hedge fund lshana Capital.

The bank’s board has agreed to allot 24.24 million shares at Rs 340.7 a piece on a private-placement basis in accordance with the provisions of the Companies Act, 2013, and the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018.

On July 9,