RBL Bank raises Rs.2025 Cr through Qualified Institutions Placement

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Mumbai: RBL Bank on Friday announced that it has successfully concluded the Qualified Institutions Placement (QIP) of Rs. 2,025 crore at the issue price of Rs. 351 per share (including premium of Rs. 341) pursuant to the allotment of 5.77 crore equity shares.

The Bank had received approval for the capital raise from its Board of Directors on April 18, 2019 followed by approval from its shareholders at its AGM held on July 9, 2019. The QIP increases the Bank’s Total Capital Adequacy Ratio to 15.3%, Core Equity Tier-I Ratio to 14.3%, enabling the Bank to remain capitalized well above the regulatory limits

The issue saw strong demand from domestic as well as foreign QIBs. The overall allocation to domestic investors including mutual funds and insurance companies is approximately 60% with the balance allocated to foreign institutional investors in Asia and Europe.

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