RBL Bank hits 2-month high; surges 60% from all-time lows

As per reports, the private lender is looking to raise up to Rs 2,000 crore through a qualified institutional placement (QIP) offering.

Shares of RBL Bank hit a two-month high of Rs 369, up 6 per cent in intra-day trade, on the BSE on Wednesday on report that the private lender is looking to raise up to Rs 2,000 crore through a qualified institutional placement (QIP) offering. The stock was trading at its highest level since September 27, 2019.

RBL Bank, during its Annual General Meeting held on July 9, 2019, passed a resolution to raise equity capital. The Bank further reiterated the possibility of raising equity capital during the analysts' earnings post the Q2FY20 results.

In the past eight trading days, the stock