India's RBL Bank Ltd. raised 20.25 billion rupees through the issuance of shares by way of a qualified institutional placement.

The bank issued 57.7 million equity shares at 351 rupees per share, according to a Dec. 6 release.

The share placement hikes the lender's total capital adequacy ratio to 15.3%, as well as its core equity Tier 1 ratio to 14.3%.

As of Dec. 6, US$1 was equivalent to 71.28 Indian rupees.