RBL Bank to raise ₹1,500 crore through preference shares | Business Upturn

RBL Bank to raise ₹1,500 crore through preference shares

RBL Bank is set to raise Rs. 1500 crore through preference shares, decided the Board of Directors of the bank.


The Board of Directors of the RBL Bank have given their approval on the issue of equity shares on a preferential basis. The board, on Thursday i.e. 20th August has proposed to issue over 8.84 crore equity shares at an issue price of ₹177 per shares for a total aggregate consideration of ₹1,566 crore, said the Bank in a BSE filing.

There will be five investors to the preferential share sale by the RBL Bank which includes, Maple II B.V. , ICICI Prudential Life Insurance Company, CDC Group, Gaja Trustee Company ( on behalf of Gaja Cpital India AIF Trust) and Gaja Capital Fund II.

Maple II B.V. (9.45%)


ICICI Prudential Life Insurance Company (3.13%)

CDC Group (5.55%)

Gaja Trustee Company, on behalf of Gaja Capital India AIF Trust (0.07%)


Gaja Capital Fund II (1.35%)

Bloomberg said that, The bank joins financial peers from IDFC First Bank Ltd. to L&T Finance Holdings Ltd. in tapping the equity market to raise capital as the coronavirus outbreak threatens to push up defaults. The bad-loan ratio in India’s banking sector are forecast to rise to a two-decade high by March 2021.