RBL Bank approves issue of preferential shares

The board of RBL Bank has approved the proposal to issue 32,621,354 equity shares of face value Rs 10 per share on preferential basis to the one or more of the following prospective investors at a price of Rs 515 per equity share totalling to Rs 1680 crore, subject to applicable regulatory approvals and the approval of the shareholders at the forthcoming annual general meeting.

The purpose of this capital raise is to augment the bank’s tier 1 capital for supporting the future organic growth of business as well as enabling the bank to capitalize on inorganic opportunities and for other general corporate purposes.
    ABG Capital
    CDC Group PLC
    Global IVY Ventures LLP
    HDFC Standard Life Insurance Company Limited
    ICICI Lombard General Insurance Company Limited
    LTR Focus Fund
    Multiples Private Equity Fund II LLP
    Plenty CI Fund I Limited
    Plenty Private Equity Find I Limited
    Steadview Capital Mauritius Limited

Stock View :-
RBL Bank Ltd is currently trading at Rs 520.5, down by Rs 4.55 or 0.87% from its previous closing of Rs 525.05 on the BSE.

The scrip opened at Rs 514.8 and has touched a high and low of Rs 527.45 and Rs 508.9 respectively. So far 3262526(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 19779.88 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 600 on 03-May-2017 and a 52 week low of Rs 273.7 on 31-Aug-2016. Last one week high and low of the scrip stood at Rs 529.7 and Rs 493.5 respectively.

The promoters holding in the company stood at 0 % while Institutions and Non-Institutions held 21.56 % and 78.44 % respectively.

The stock is currently trading below its 50 DMA.

RBL Bank Ltd :-
BSE 522.65 [2.40]    ([0.46]%)
NSE 522.45 [2.40]    ([0.46]%)


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