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.