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RBL Bank's board approves fund raising of Rs3000 crore

According to the bank's regulatory filing, the shareholders must approve the money raising.

August 23, 2022 9:27 IST | India Infoline News Service

On Monday, RBL Bank announced that its board has authorized funding up to Rs 3,000 crore to support the lender's operational expansion. The bank stated in a regulatory statement that the cash raising will be subject to the shareholders' approval.

In addition to the residual/remaining options that are still pending under the ESOP 2018, the board has approved the issuing of1.75 crore additional equity stock options, exercisable into an equivalent number of fully paid up equity shares of Rs10 each.

The bank's board also approved the hiring of two independent directors, Gopal Jain, managing partner and founder of Gaja Capital, and Sivakumar Gopalan, professor at IIT Bombay's department of computer science and engineering, according to the filing.

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