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RBL Bank to raise up to 8.26B rupees via share issuance

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RBL Bank to raise up to 8.26B rupees via share issuance

RBL Bank Ltd. plans to raise up to 8.26 billion Indian rupees via an issuance of equity shares to five investors on a private placement basis.

The bank will issue up to 24,238,310 equity shares to Bajaj Finance Ltd., East Bridge Capital Master Fund I Ltd., FEG Mauritius FPI Ltd., lshana Capital Master Fund and WF Asian Reconnaissance Fund Ltd., according to a Nov. 30 filing with the BSE.

In addition, RBL Bank appointed Ranjana Agarwal to be an additional independent director, effective Nov. 30, for a term of five years. Agarwal is a board member of rating company ICRA Ltd. and a few other listed companies.

As of Nov. 29, US$1 was equivalent to 71.76 Indian rupees.