MUMBAI: RBL Bank has raised Rs 1,566 crore through a preferential share issue to a set of investors led by US private equity giant Baring. Maple II BV an arm of Baring will invest Rs 1000 crore for a 9.45 per cent stake in the bank, the private equity giant’s first investment in a bank in India.
Other investors include ICICI Prudential Life with 3.13 per cent stake, CDC Group Plc with up 5.55 per cent stake while local private equity company Gaja Capital will increase its stake to 1.42 per cent.
The additional capital will improve the bank’s capital adequacy ratio to 18.6 per cent with common equity Tier 1 increasing to 17.4 per cent the bank said.
The bank’s board had approved the issuance of over 8.84 crore equity shares at a price of Rs 177 per shares in a meeting on August 20.