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In the reporting period, operating revenue increased by 4% year over year (YoY) to Rs 13,159 crore.
The company achieved an 18% growth in individual new business premiums, amounting to Rs 4,060 crore
As per the IPO schedule, the basis of allotment for IPO shares will be finalized by August 2.
The project involved an investment of Rs 1,600 crore and was first announced during the Global Investors Summit (GIS) in Visakhapatnam.
The QIP's floor price was fixed at Rs 132.59 per equity share by the board last week.
The group is interested in increasing its stake in RBL Bank to 15-25%, contingent on obtaining approvals to be a strategic shareholder.
The appointment will be effective from August 1, 2023, according to the stock regulatory filing on July 25.
Recommendation: Add; Target price: Rs 143
Company's revenue from operations in the first quarter of the current fiscal year was Rs 2,935.2 crore.
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