RBL BANK

on August 29 announced that its board has approved a plan to raise up to Rs 3,500 crore through a Qualified Institutions Placement (QIP) of equity shares, and up to Rs 3,000 crore through the issuance of debt securities. This takes the total fund infusion approved by RBL Bank's board to Rs 6,500 crore through a mix of equity and debt instruments. Speaking about the QIP, RBL Bank said that the board has approved the plan to raise "funds by way of a Qualified Institutions Placement by means of issuance of Equity Shares (QIP) at an appropriate time for an amount upto Rs. 3,500 crore, in one or more tranche or tranches."