RBL Bank raises Rs 2,025 cr from Bajaj group, other investors

Bank says it concluded the QIP at an issue price of Rs 351 per share pursuant to the allotment of 57.7 million equity shares

Private sector lender RBL Bank has raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement (QIP). The proceeds will be used to fund business growth.

In a statement, RBL Bank said it concluded the QIP, which was open between December 2 and 5, at an issue price of Rs 351 per share pursuant to the allotment of 57.7 million equity shares.

"The issue saw strong demand from domestic as well as foreign QIBs. The overall allocation to domestic investors, including mutual funds and insurance companies, is approximately 60 per cent with the balance allocated to foreign institutional investors in