Following a block deal, RBL Bank shares increase; details inside
According to Bloomberg, 1.7% of RBL Bank’s stock changed hands in a block trade today, pushing up the price of the company’s shares by 1.09% to Rs 232.70 at 2:15 pm IST on Thursday, August 24. The buyer and seller’s specifics are yet unknown. There were 1.02 billion shares traded, worth Rs 235.6 billion in RBL Bank shares.
The largest ownership position among mutual funds in RBL Bank was held by Nippon Life India Trustee Limited, which had a 3.09% holding as of June 30. Tata Mid Cap Growth Fund owns 2.35% of the lending company. 3.28 percent of RBL Bank is owned by ICICI Prudential Life Insurance.
By holding a 9.98% share in the business as of June 30, Maple Li BV became the largest foreign institutional investor in RBL Bank. RBL shares have increased by 28% so far this year, while the stock’s returns have increased by 90% over the previous 12 months.
Mahindra & Mahindra has acquired a 3.53% stake in RBL Bank. In the April to June quarter, RBL Bank’s net profit increased 30% year over year (YoY) to Rs 288 crore while its revenue increased 30% YoY to Rs 2680 crore.
The bank has allocated 4,53,920 equity shares with a face value of Rs 10 apiece to the qualified workers on August 22, 2023, under the bank’s ESOP Scheme, the business said on Wednesday through an exchange filing.
As a result of the aforementioned allocation, the bank’s paid-up share capital increased from 60,02,31,733 equity shares of Rs 10 each, totaling Rs 6,00,23,17,330, to 60,06,85,653 equity shares of Rs 10 each, totaling Rs 6,00,68,56,530.
