The seller was MAPLE II BV, which sold over 478 million shares at a price of Rs 2.28 billion. The transaction earned the company a profit of around Rs 10.91 billion.
The share sale represents a 7.9% stake in the company and was reportedly made by Maple II BV, a subsidiary of EQT AB.
IIFL Securities is the sole bookrunner for the deal and, according to a term sheet issued by IIFL, Maple II BV, an EQT AB entity, is proposing to sell 478 crore shares in the bank at a floor price of Rs 226 per share, a 5 per cent discount to Wednesday’s closing price of Rs 237.95, ET had reported earlier.
As of June 30, 2024, EQT holds 7.89% stake in the bank. In November 2020, RBL Bank raised fresh capital of Rs 999 crore from Baring Private Equity Asia through preferential share allotment. In 2022, EQT AB acquired Hong Kong-based Baring Private Equity Asia. As per the shareholder structure available on BSE for the quarter ending June 2024, 100% of RBL Bank’s shares are held by public shareholders. Baroda BNP Paribas Balanced Advantage Fund, Tata Arbitrage Fund, Nippon Life India Trustee Limited-A/C Nippon India Small Cap Fund, Quantitative Mutual Fund are some of the prominent MF shareholders of the bank. Over the past one year, RBL Bank’s share price has risen by 2.5%. However, the share price has fallen by 20% so far in the current calendar year. According to BSE analysis, the stock has risen 140% in the last two years.RBL shares closed down Rs 7, or 2.95%, at Rs 230.40 on the BSE today.
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