On August 17, RBL Bank said it had offloaded over a 12 per cent stake in Kilburn Engineering for a total consideration of over Rs 17 crore. In Kilburn Engineering (Kilburn), RBL had acquired 67,50,000 equity shares to recast the debt plan. The planning of this fund shows that a 19.67 per cent share is used for the company’s capital as a part of outstanding loan conversion under the debt restructuring by RBL in February 2021, having a lock-in period of one year.

“We now wish to inform the bank that it has further sold 22,00,000 equity shares representing the 54th regulatory filing. “The sale transactions happened through stock exchanges at a prevailing market price from May 17 to August 17, 2022. On August 12, it had sold 7,07,468 shares (2.06 per cent stake) and offloaded 12,42,532 shares (3.62 per cent) on August 11.” “The total consideration for the sale of 41,50,000 equity shares is Rs 17,00,94,821 (till August 17, 2022),” the lender said.

• Tata Motors Announced Tie-up with South Indian Bank
• Waaree Energies Received a Supply Order for 400 MW Modules 
• Techno Electric Shares Hit 52-Week High on Securing Orders Worth Rs 4,000 Crore
• IREDA Shares Skyrocketed 11% on Receiving Navratna Status 
• Glenmark Pharma Shares Gain 1% on Receiving USFDA Approval 

Kilburn fell to 7.58 per cent after these equity share sales as the lender’s shareholding. For the financial year 2022-23, overall income in Kilburn stood at Rs 124.40 crore, and the balance sheet size was Rs 232.87 crore.

As per the bank statement, the board meeting is planned for August 22. The purpose of the meeting is to propose funding by issuing debt securities on a private placement basis. RBL Bank’s shares closed at Rs 100.95 per share on the Bombay Stock Exchange (BSE), rising by 3.17 per cent.