Baring Private Equity likely to sell a 7.9% stake in RBL Bank on Thursday

Mumbai: Baring Private Equity Asia (BPEA) is likely to sell its entire 7.9% stake in RBL Bank on Thursday through an open market transaction. The deal is estimated at around Rs 1,081 crore ($129 million) at the floor price.

IIFL Securities is the sole book runner for the deal. According to the term sheet issued by IIFL, Maple II BV, an entity of BPEA, is offering to sell 4.78 crore shares of the bank at a floor price of Rs 226 per share — a 5% discount to Wednesday’s closing price of Rs 237.95.

As of June 30, 2024, BPEA held a 7.89% stake in the bank. In November 2020, RBL Bank raised Rs 1,566 crore in fresh capital through a preferential allotment of shares to a group of investors led by Baring Private Equity Asia.