desk
Share
News Topical, Digital Desk : Private sector bank RBL Bank informed after the stock market closed on Friday that its board has approved the proposal to seek shareholders' approval in the next Annual General Meeting (AGM) to raise funds through equity and debt instruments. The board of RBL Bank has approved proposals to raise up to Rs 6500 crore through equity and debt routes. The board has allowed raising up to Rs 3500 crore by issuing equity shares in one or more installments through Qualified Institutional Placement (QIP).
After getting approval from the shareholders, this authorization will be valid for 365 days from the date of passing the special resolution in the AGM. Apart from this, the board has also approved to seek shareholders' approval for the issue of debt securities up to Rs 3000 crore in one or more installments through private placement. The bank said that similar approval was given by the shareholders in the 81st AGM (7 August 2024), but its validity has now expired. No funds were raised under those earlier approvals.
Stock Performance RBL Bank shares closed 4.44 per cent higher at Rs 262.00 on Friday. The company's stock has gained 15.53 per cent in the last one year.
Read More: Adani Power gave a new update, got LoA and 25 years contract from Bihar government
--Advertisement--
