Mumbai: The Reserve Bank has allowed Quant Mutual Fund to increase its stake in RB Bank to 9.98 per cent, according to a regulatory filing.
As of May 10, Quant MF held 4.68 per cent equity share capital in the private sector lender through its various schemes.
"RBI has approved Quant Money Managers Limited to acquire "aggregate stake" 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." Said.
The approval given on Monday is subject to certain conditions and provisions under the Banking Regulation Act, 1949.
It says that shareholding will have to be increased by May 12, 2025.
RBL Bank shares were trading 0.20 per cent up at Rs 246.60 on BSE.
As of May 10, Quant MF held 4.68 per cent equity share capital in the private sector lender through its various schemes.
"RBI has approved Quant Money Managers Limited to acquire "aggregate stake" 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." Said.
The approval given on Monday is subject to certain conditions and provisions under the Banking Regulation Act, 1949.
It says that shareholding will have to be increased by May 12, 2025.
RBL Bank shares were trading 0.20 per cent up at Rs 246.60 on BSE.
