RBL Bank to raise Rs 3,000 crore

RBL Bank on Monday said its board has approved raising up to Rs 3,000 crore to fund the lender’s business growth.

The fund raising will be subject to the approval of the shareholders, the bank said in a regulatory filing.

Besides, the board has approved issuance of 1.75 crore additional equity stock options exercisable into equivalent number of equity shares fully paid up of Rs 10 each, in addition to residual/remaining options which remain ungranted under ESOP 2018.

As per the filing, the bank’s board also cleared the appointment of two independent directors — Gopal Jain, Managing Partner and Founder Gaja Capital, and Sivakumar Gopalan, Faculty of the Department of Computer Science and Engineering, IIT Bombay. PTI DP RAM