The investment will be via preferential equity issuance at ₹280 per share, with the lender’s board approving the issuance and allotment of 96 crore new equity shares.
RBL Bank also also reported its September quarter results over the weekend, with its net interest income (NII) being largely in-line with estimates, led by marginal expansion in net interest margin (NIM), which increased by 1 basis point sequentially to 4.51%.Its pre-provision operating profit (PPOP) growth was aided by a moderation in operating expenses. However, higher provision during the September quarter weighed on profitability, resulting in a 20% decline in profit after tax (PAT) compared to the previous year.
The stock is also out of the F&O ban, which means that new positions can be created in the stock.
On Thursday, the stock declined 3.3% to hit an intraday low of ₹313.9 apiece. The stock was down 2.2% lower at ₹317.55 apiece around 12.10 PM. The stock has gained 4.5% in the last five trade sessions, 18.2% in the past month, 65.9% in the last six months and 101.5% this year, so far.
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