RBL Bank to raise Rs 825.79 crore through private placement of shares

RBL Bank, on November 30, announced that it will raise Rs 825.79 crore through the private placement of shares.

According to a release, the bank will issue 24,238,310 shares at a price of Rs 340.70 per share, and with a face value of Rs 10 for each share among five investors. It will raise Rs 8,25,79,92,217 from the issue.

Bajaj Finance and East Bridge Capital Master Fund will receive 4,402,700 shares (0.97 percent of the total shareholding) each. FEG Mauritius will receive 2,527,140 shares (0.56 percent), lshana Capital Master Fund will receive 6,31 0,530 shares (1.39 percent) and WF Asian Reconnaissance Fund will receive 6,595,240 shares (1.45 percent).

RBL Bank share price rose nearly 2 percent intraday on November 28 after the company said that its board is going to consider fundraising on November 30.