BackRatnakar Bank raises `324 crore
Bank raises `324 crore by issuing 30 million shares to global and domestic investors
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Mumbai: Ratnakar Bank Ltd on Wednesday said it raised ₹ 324 crore by issuing 30 million shares to global and domestic investors. They include World Bank Group member International Finance Corp., Aditya Birla Private Equity, ICICI’s Emerging India Fund, IDFC S.P.I.C.E. Fund and Ascent Capital. Faering Capital, an existing investor in the bank too invested, it said. Mint had reported this on 31 January. “This equity raise, in addition to supporting our growth impetus, has significantly strengthened the financial foundation of the bank and will allow us to continue our investments in new products, branches, technology etc. so as to meet customer requirements," Vishwavir Ahuja, managing director and chief executive of the bank said.
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