The floor price for the QIP is expected to be pegged around Rs 350 per share
RBL Bank may launch a qualified institutional placement (QIP) of around Rs 1,600 crore on December 2, sources told CNBC-TV18. The floor price for the QIP is expected to be pegged around Rs 350 per share, sources added.
Listed companies use the QIP route to sell shares, debentures or any securities (other than warrants that are convertible into stocks) to qualified institutional buyers such as mutual funds and foreign institutions.
On November 30, RBL Bank said it would raise Rs 825.79 crore via private placement of shares.Shares of RBL Bank ended at Rs 376.70, up Rs 2.90, or 0.78 percent on the BSE. The counter saw a spike of close to Rs 10 on the basis of this report.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.