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RBL Bank Limited has announced completion of Rs 488 crore pre-IPO preferential placement to certain international investors, including Asian Development Bank (ADB) and CDC Group Plc among others.
The fresh capital was raised for the purpose of augmenting the bank’s tier 1 capital base to arise out of growth in the Bank’s assets and to comply with RBI’s Basel III guidelines.
RBL Bank Limited was established in 1943 and is one of India’s fastest growing private sector banks. It has over 184 branches and 358 ATMs spread across 13 states as of date.
The bank offers specialised services under six business verticals namely corporate & institutional banking, commercial banking, branch and business banking, agri business banking, development banking and financial inclusion, treasury and financial markets operations.
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