(Disclosure:I am market making in Ratnakar Bank)
RBL Bank, formerly known as Ratnakar Bank, today said it has raised Rs 328 crore from a group of global investors.
Besides the capital injection by institutional investors, the private lender may hit the market with public offering for shares in 9-12 months, said Rajeev Ahuja, Head of Strategy at RBL Bank.
The capital infusion was led by CDC Group and Asia Capital and Advisors. The bank’s existing investors, including International Finance Corporation (IFC), private sector funding arm of World bank, and Gaja Capital, also participated in this round. This is the third time the private lender has raised money in the last three years.
At present, the Bank has a total business size of over Rs. 21,000 crore and offers its services to over half a million customers. Ahuja said bank has grown business – deposits and advances – by over 40% in 2013-14 and expects to maintain same pace in 2014-15.-from Business Standard
