RBL Bank to seek PE funding amid concerns over financial health: Report

The bank is looking to raise as much as Rs 1,500 crore in 'confidence capital', say sources

RBL Bank Ltd., the Indian lender at the center of turmoil after the nation’s banking regulator appointed a director last month, is seeking to raise new capital in a bid to allay investor concerns over its financial health, according to people familiar with the matter.

The Mumbai-based bank has approached private equity firms for funds in exchange for a stake, the people said, asking not to be identified as the information is private. The bank is looking to raise as much as Rs 1,500 crore ($201 million) in “confidence capital,” one of the people said.

Deliberations are at an early