RBL Bank announced the successful conclusion of 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 Boardof Directors on 18 April 2019 followed by approval from its shareholders at its AGM held on 09 July 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 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.

*Post QIP Issuance considering the financial position as at September 30, 2019 (including profits for the H1FY20).

Powered by Capital Market - Live News

RBL Bank announced that the Capital Raising Committee of the Board of the Bank at its meeting held on 06 December 2019 approved the issue and allotment of 5,77,00,000 equity shares to eligible qualified institutional buyers at an issue price of Rs. 351 per equity share (including a premium of Rs. 341 per equity share), aggregating to Rs. 2025.27 crore.

The QIP opened on 02 December 2019 and closed on 05 December 2019.

Consequent to the above allotment, the paid up share capital of the Bank has increased from 43,07,40,110 equity shares of Rs. 10 each aggregating Rs. 4,30,74,01,100 to 48,84,40,110 equity shares of Rs. 10 each aggregating Rs. 4,88,44,01,100.

Powered by Capital Market - Live News

RBL Bank announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 27 December 2019 .

Powered by Capital Market - Live News

The Capital Raising Committee of the Board of RBL Bank at its meeting held on 02 December 2019 has passed the following resolutions -

Determining the mode of raising of funds by way of issue of equity shares, through a QIP.

Authorised the opening of QIP on 02 December 2019.

Approved the floor price for the QIP being Rs 352.57 per equity share.

Approved the preliminary placement document dated 02 December 2019 in connection with the QIP.

The relevant date for QIP is 02 December 2019.

The Committee will meet on or after 05 December 2019 to consider and approved the issue price including discount, if any for the equity shares to be allotted to qualified institutional buyers pursuant to the QIP.

Powered by Capital Market - Live News