RBL Bank achieves total capital adequacy ratio of 15.3% - Pivotal Sources
07-Dec-2019 12:15:15 PM
RBL Bank announced the successful conclusion of QIP of Rs. 2,025 crore at the issue price of Rs. 351 per share (including premium of Rs. 341) pursuant to the allotment of 5.77 crore equity shares. The Bank had received approval for the capital raise from its Board of Directors on 18 April 2019 followed by approval from its shareholders at its AGM held on 09 July 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 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. *Post QIP Issuance considering the financial position as at September 30, 2019 (including profits for the H1FY20).