RBL Bank shares in news as lender to consider raising of funds via QIP

Shares of RBL Bank are in news today after the lender said a meeting of the board of directors is scheduled to be held on June 27, 2024  for raising of funds by way of a Qualified Institutional Placement (QIP). RBL Bank shares ended 2.62% lower at Rs 256.65 against the previous close of Rs 263.55 on BSE. Market cap of the bank fell to Rs 15,560 crore.

Total 2 lakh shares of the firm changed hands amounting to a turnover of Rs 5.11 crore. The stock has a beta of 1.6, indicating high volatility in a year.   

In terms of technicals, the relative strength index (RSI) of RBL Bank stands at 51.3, signaling it's neither trading in the overbought nor in the oversold territory. RBL Bank shares are trading lower than the 5 day, 10 day but higher than the 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.            

Total 2 lakh shares of the firm changed hands amounting to a turnover of Rs 5.11 crore. The stock has a beta of 1.6, indicating high volatility in a year.   

An AGM is scheduled to be held on Thursday, June 27, 2024, to, inter-alia, consider the following proposals to be included in the Notice of ensuing Annual General Meeting (AGM) for the approval of the Members of the Bank:

1. Proposal for raising of funds by way of a Qualified Institutional Placement, in accordance with the provisions of the Companies Act, 2013, Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended and such other acts, rules and regulations and subject to such Regulatory / Statutory approvals; as may be applicable.

ii. Proposal for the issue of debt securities, in one or more tranches, on private placement basis, (which will be valid from the date of the ensuing AGM till the date of the next AGM) pursuant to Section 42 and other applicable provisions of the Companies Act, 2013 and applicable SEBI Listing Regulations and subject to such Regulatory / Statutory approvals as may be applicable.

to consider the following proposals to be included in the Notice of ensuing Annual General Meeting (AGM) for the approval of the Members of the Bank: