RBL Bank to consider fundraising plan on October 18

Synopsis RBL Bank will weigh a fundraising initiative on October 18 that could see the issuance of equity shares or related securities. Sources indicate that Emirates NBD Bank is exploring the possibility of acquiring a stake through a preferential share issue, with informal backing from the Reserve Bank of India. Indian private lender RBL Bank said on Wednesday it will consider a proposal to raise funds at its board meeting on October 18. The lender will consider raising funds through an issue of equity shares or equity-linked securities, RBL bank said in an exchange filing. This could include a proposal for a preferential issue of securities. Earlier this week, Indian media and Reuters reported that Dubai's Emirates NBD Bank is in talks to buy a stake in RBL Bank, via a preferential issue. The Reserve Bank of India, the country's banking regulator, has backed the proposal in informal discussions, Reuters reported. RBL Bank, in its notification to exchanges on Wednesday, did not specify which fund raising proposal it is considering. (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless (You can now subscribe to our Economic Times WhatsApp channel) (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online. ...moreless