RBL Bank’s shares worth ₹1,081.20 Crore may change hands

25 Jul 2024 , 11:22 AM

Baring Private Equity Asia, through its company Maple II B.V., is set to sell its whole investment in private sector lender RBL Bank through block transactions.

According to sources, the block deal would take place at a floor price of ₹226 per share, a 5% decrease from the last closing price. According to sources, the offer totals ₹1,081.2 Crore and accounts for 7.9% of RBL Bank’s stock.

RBL Bank’s first-quarter net profit increased by 29% YoY to ₹371.5 Crore. The bank’s net interest income (NII) increased by 19.5% to ₹1,699.9 Crore from ₹1,422.3 Crore in the first quarter of FY24.

The lender’s net interest margin was 5.67%, up from 5.45% in the previous quarter and 5.53% year on year. The bank’s gross non-performing assets (NPA) rose slightly to 2.69% from 2.65% the previous quarter. However, the net NPA remained steady at 0.74%.

As of June 30, 2024, BPEA has a 7.89% interest in the bank. In November 2020, RBL Bank raised ₹1,566 Crore in new capital through a preferential share offering to a consortium of investors led by Baring Private Equity Asia.

RBL Bank, formerly Ratnakar Bank Limited, is a private sector Indian bank located in Mumbai that was founded in 1943. It provides services in five categories: commercial banking, corporate banking, branch banking and retail liabilities, retail assets, and treasury and financial market operations.

At around 11.18 AM, RBL Corp was trading 3.72% lower at ₹229.10, against the previous close of ₹237.95 on NSE. The counter touched an intraday high and low of ₹233.20, and ₹228.05, respectively.

For feedback and suggestions, write to us at [e-mail]