RBL Bank hit a new record high today at Rs.667.40, going up over 2%. The stock has been gaining for the last 2 days and has risen 4.72% in the period.
The stock price is up on unconfirmed news that Black Rock group has taken a stake in the company, buying shares from private equity fund Gaja Capital, via block deals executed over three days.
The news is that Gaja Capital which held 1.41% has now trimmed its stake to less than 1%.
In June 2018 too it has sold shares of RBL Bank in a similar way.
Gaja Capital was one of the anchor investors and had held around 5% stake in th RBI< invested since 2011. It is said to have earned 9 times in RBL.