Shares of RBL Bank Ltd. plunged by almost 4% after touching a day’s high of Rs 233.20 on 25 July, after the company changed hands in a block deal during yesterday’s early trading session.

The company’s equity changed hands at Rs 229.5 per share, amounting to 7.9% of the bank’s total equity. The total amount for the transaction sums up to Rs 1,100 crore.

The official buyers and sellers of this transaction have not yet been disclosed.

As per the reports received on 25 July, Maple II B.V., an MNC owned by Baring Private Equity Asia, was planning to sell off all its shares in RBL Bank through block transactions.

The sale was set at a floor price of Rs 226 per share, a 5% discount on the previous closing price. The total offer size was Rs 1,081.2 crore, representing 7.9% of RBL Bank’s equity.

At the end of the first quarter, Maple II B.V. held a 7.89% stake in RBL Bank, implying a complete exit.

The company’s Q1 net profit rose 29% to Rs 371.5 crore, surpassing the estimates of Rs 339.5 crore. Net interest income increased by 19.5% to Rs 1,699.9 crore from Rs 1,422.3 crore in Q1 FY24.

The bank’s net interest margin improved to 5.67% from 5.45% QoQ and 5.53% YoY. Gross NPA slightly increased to 2.69% from 2.65% in the previous quarter, while net NPA remained stable at 0.74%.

At 10:52 AM, the shares of RBL Bank Ltd. were trading 2.95% lower at Rs 230.40 on BSE.

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