(Disclosure:I am market making in Ratnakar Bank)
Tag: RBLBank
(Disclosure:I am market making in the shares of Ratnakar Bank)
What were the things CDC was looking at when it picked up 4.8% stake in Ratnakar Bank in April?
We didn’t come into Ratnakar Bank for the momentum play, something which a foreign institutional investor would do. We are a DFI and not a pre-IPO investor. Ratnakar is deeply focused on financial inclusion, agri-lending and loans to the small and medium scale sector. These are high impact areas that create jobs. We are now working closely with the bank in all these areas.-from DNA
(Disclosure:I am market making in Ratnakar Bank)
Ratnakar Bank Ltd plans to launch an initial public offering of shares worth up to $250 million in the first quarter of next year, three sources directly involved in the process said on Tuesday.
Ratnakar Bank will issue new shares and some of the private equity investors will pare their holding in the share sale, said the sources, who declined to be named as they were not authorised to speak to the media ahead of a public announcement.
A Ratnakar Bank spokeswoman did not immediately comment.
The lender will hire at least four banks to manage the public offering within a week, two of the sources said. At least 10 banks are in the race to win the mandate for the IPO process, they said.-from BS
(Disclosure:I am market making in the shares of RBL Bank)
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(Disclosure:I am market making in RBL Bank)
RBL Bank, formerly known as Ratnakar Bank, today said it plans to raise a minimum Rs 500 crore through an initial public offer in the fourth quarter of current financial year.
“We will start the basic process for IPO in the next 2-3 months … we hope to hit the market in the early part of the next year,” RBL Bank Managing Director Vishwavir Ahuja told PTI.“The quantum of offer is not finalised yet but we plan to raise minimum Rs 500 crore or 10 per cent of stake dilution,” he said.
The bank has build scale and size so that bank get right valuation for its shares, he added.
The bank currently services more than 5 lakh customers and has a total business size of over Rs 21,000 crore. It got capital support of about Rs 1,500 crore from global and domestic investors in the last three years.Last month, the bank raised Rs 328 crore from a group of global investors, including CDC Group and Asia Capital and Advisors.-from ET