RBL Bank announced that it has successfully concluded the QIP of Rs2,025cr at the issue price of Rs351 per share (including a premium of Rs341) pursuant to the allotment of 5.77cr equity shares. The Bank had received approval for the capital raised 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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