BoR to raise 150 cr via preferential equity allotment

MUMBAI: Bank of Rajasthan on Thursday said it will raise Rs 150 crore through preferential issue of equity shares to US-based Indus Capital Partners and New Delhi's Max India.

The board of directors approved the preferential issue at its meeting, the company informed the Bombay Stock Exchange in a communique.

The board has approved allotment of 65 lakh shares to Indus Capital and 35 lakh shares to Max India at Rs 150 per share or the price calculated in accordance with SEBI guidelines, whichever is higher, it said.

These decisions are subject to approval by the shareholders at the next extra-ordinary general meeting.