EQT AB 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 crores ($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 EQT AB, 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, EQT held a 7.89% stake in the bank. In November 2020, RBL Bank raised Rs 999 crore from Baring Private Equity Asia in fresh capital through a preferential allotment of shares. In 2022, EQT AB acquired Hong Kong-based Baring Private Equity Asia.
