RBL Bank shares rise after board clears raising of Rs 3,000 crore

RBL Bank stock rose 5.19 per cent to Rs 103.35 against the previous close of Rs 98.25 on BSE. The banking stock has gained after two days of consecutive fall.

Shares of RBL Bank gained over 5 per cent in a highly volatile market today after its board cleared raising of up to Rs 3,000 crore to fund the lenders business growth. The fund raising will be subject to the approval of the shareholders, the bank said.

Buoyed by the development, RBL Bank stock rose 5.19 per cent to Rs 103.35 against the previous close of Rs 98.25 on BSE. The banking stock has gained after two days of consecutive fall.

The stock hit a 52-week low of Rs 74.15 on June 20, 2022 and a 52-week high of Rs 221.20 on November 10, 2021.

In a year, the share has lost 35 per cent and fallen 19.17 per cent since the beginning of this year. Total 16.23 lakh shares changed hands amounting to turnover of Rs 16.49 crore. Market cap of the lender stood at Rs 6,192.99 crore on BSE.

Issue of debt securities on private placement basis, from time to time, upto an amount of Rs 3,000 crore, subject to the approval of the Members of the Bank at the ensuing Annual General Meeting of the Bank, pursuant to Section 42 and other applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations,said RBL Bank.