Shares of RBL Bank traded lower on Monday following a large block deal in which approximately 2.3 crore shares, representing 3.9% of the company’s equity, changed hands at ₹188 apiece. The deal was executed at a slight discount to the previous closing price of ₹192.03.
According to market sources, British International Investment (BII) is likely to have offloaded its entire 3.8% stake in the private lender via these block deals. The development saw active participation from both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs), who are believed to have picked up the stake on offer.
Meanwhile, stock details: RBL Bank shares opened weak and touched an intraday low of ₹183.45 before recovering slightly to trade at ₹188.79, down 1.69% from the previous close. The bank currently commands a market capitalization of ₹114.29 billion, with an average trading volume of 5.39 million shares. It trades at a P/E ratio of 11.66 with a dividend yield of 0.80%.
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