RBL Bank to raise ₹3,500 crore via QIPs in one or more tranches via debt securities

The slope volition rise 35 cardinal rupees done QIP and 30 cardinal rupees done contented of indebtedness securities via backstage placement, according to an speech filing.

This volition beryllium RBL's archetypal stock contented via organization placement since 2021 erstwhile the slope saw an abrupt absorption modulation and the cardinal slope accrued scrutiny of the lender by temporarily appointing a manager connected its committee amid reports of a ample stock of unsecured borrowing connected its books.

The fundraising comes astatine a clip erstwhile the lender targets 20%growth successful its indebtedness publication implicit the adjacent 2 fiscal years, mostly led by an summation successful secured retail assets. RBL, however, did not notation however it would deploy the proceeds of the latest superior raise.

Indian banks person been shoring up their superior basal to support up with the rising request for loans. Lenders including Punjab National Bank and State Bank of India person approved raising funds successful caller months

During fiscal 2024, RBL Bank reported a 20% maturation successful advances portion its deposits grew 22%.

The lender's shares ended 2.1% higher up of the fundraise announcement.

($1 = 83.4240 Indian rupees)

3.6 Crore Indians visited successful a azygous time choosing america arsenic India's undisputed level for General Election Results. Explore the latest updates here!

Published: 27 Jun 2024, 09:32 PM IST