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RBL Bank plans to raise Rs 2,000 crore via QIP route: Report

In July, RBL Bank Chief Executive Vishwavir Ahuja announced the bank’s intention to raise Rs 3,500 crore.

November 25, 2019 / 03:23 PM IST

RBL Bank is looking to raise as much as Rs 2,000 crore through a qualified institutional placement (QIP), Mint reported.

“The bank has appointed ICICI Securities, IIFL Securities, and IDFC Securities as advisers to the transaction. The roadshows have already happened in the US, Europe, and Asia markets and the timing of the QIP launch will be decided soon,” a source told the publication.

In July, RBL Bank Chief Executive Vishwavir Ahuja announced the bank’s intention to raise Rs 3,500 crore.

Moneycontrol could not independently verify the story.

“The query is speculative in nature and as a matter of policy we do not comment on it,” a spokesperson for RBL Bank told Mint.

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ICICI Securities and IDFC Securities declined to comment, when contacted by the paper. IIFL has not yet responded to a request for comment.

On November 22, CNBC-TV18 reported that RBL Bank was in talks with Bajaj Holdings & Investment, Chrys Capital and Blackstone for a proposed share sale which could help raise Rs 2,000 crore.

RBL Bank reported a gross bad loans ratio of 2.6 percent in the July-September quarter, up from 1.38 percent in the same period in 2018.

The stock fell Rs 230.55 after global brokerage houses had remained bearish on the lender after the second quarter results.
Moneycontrol News
TAGS: #RBL Bank
first published: Nov 25, 2019 03:23 pm

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