The Reserve Bank has allowed Quant Mutual Fund to hike its stake in RBL Bank to 9.98 per cent, according to a regulatory filing. As of May 10, Quant MF through its various schemes owned 4.68 per cent equity share capital in the private sector lender.
"RBI...has accorded its approval to quant Money Managers Ltd to acquire "aggregate holding" of up to 9.98 per cent of the paid-up share capital or voting rights in RBL Bank through various schemes of Quant Mutual Fund," the filing said.
The approval granted on Monday is subject to certain conditions and provisions under the Banking Regulation Act, 1949, among others.
The shareholding has to be increased by May 12, 2025, it said.
RBL Bank stock was trading at Rs 246.60, up 0.20 per cent on BSE.
"RBI...has accorded its approval to quant Money Managers Ltd to acquire "aggregate holding" of up to 9.98 per cent of the paid-up share capital or voting rights in RBL Bank through various schemes of Quant Mutual Fund," the filing said.
The approval granted on Monday is subject to certain conditions and provisions under the Banking Regulation Act, 1949, among others.
The shareholding has to be increased by May 12, 2025, it said.
RBL Bank stock was trading at Rs 246.60, up 0.20 per cent on BSE.
(Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.
Read More News on
(Catch all the Business News, Breaking News Budget 2024 News, Budget 2024 Live Coverage, Events and Latest News Updates on The Economic Times.)
...moreDownload The Economic Times News App to get Daily Market Updates & Live Business News.