RBL Bank has raised Rs 1,680 crore by issuing shares on a preferential basis. The Capital Raising Committee of the board of directors of the bank has, at its meeting, allotted 32,621,354 equity shares on preferential basis at a price of Rs 515 adding Rs 16,799,997,310 in the paid up capital of the bank. The bank will use the proceeds from the fund to augment its tier I capital to support future organic growth.
Post this preferential allotment of shares, the bank’s paid up share capital has increased to Rs 411.90 crore from Rs 379.31 crore presently.
RBL Bank is one of India’s fastest growing private sector banks with an expanding presence across the country.
