RBL Bank shares: Shares of RBL Bank Ltd increased by 3% in early trading after the bank’s board approved raising up to Rs 3,500 crore through qualified institutions placement in one or more tranches, as well as Rs 3,000 crore through the issuance of debt securities on a private placement basis, also in one or more tranches.

RBL Bank’s stock rose by 3% to Rs 268.60 from the previous close of Rs 262.50 on the BSE. The bank’s market capitalization increased to Rs 16,391 crore on the BSE. A total of 0.69 lakh shares were traded, amounting to a turnover of Rs 1.88 crore. The market cap climbed to Rs 16,345 crore on Friday. The stock has a beta of 1.6, indicating high volatility over the year.

From a technical perspective, the relative strength index (RSI) of RBL Bank is 55.9, suggesting that the stock is neither overbought nor oversold. RBL Bank shares are trading above the 5-day, 10-day, 50-day, 100-day, 150-day, and 200-day moving averages.

The lender stated to bourses in a communication

RBL Bank plans to raise up to Rs 3,500 crore through a Qualified Institutions Placement (QIP) by issuing equity shares in one or more tranches. This amount will constitute up to 15% of the bank’s post-issue paid-up equity share capital. The process will be carried out by the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (as amended), and other relevant acts, rules, and regulations. This is subject to the approval of the bank’s members and any necessary regulatory or statutory approvals.

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The bank will issue debt securities in one or more tranches on a private placement basis, up to an amount of Rs 3,000 crore. This will be done under Section 42 and other applicable provisions of the Companies Act, 2013, the relevant SEBI Listing Regulations, and will be subject to the approval of the members and any necessary regulatory or statutory approvals.