Private sector lender Ratnakar Bank has completed its second round of capital infusion of Rs 324 crore by issuing three crore new shares to domestic and global investors.
Prior to this, the bank had raised capital in January 2011. With the latest round of equity-raising, the bank has mobilised Rs 1,100 crore in two years, the bank said in a statement.
Investors who subscribed to the shares are International Finance Corporation, a member of the World Bank Group, 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 Kolhapur-headquartered bank, too participated in the second round.
Vishwavir Ahuja, Managing Director and CEO, Ratnakar Bank, said: “The capital infusion has significantly strengthened the financial foundation of the bank and will allow us to continue our investments in new products, branches, technology, etc., to meet customer requirements.”