Abhishek Securities

Private sector lender Ratnakar Bank has completed its second round of capital infusion of Rs 324 crore by issuing 3 crore new shares to domestic and global investors. The bank had last raised capital in January 2011. With the latest round of funding, the bank has raised total equity capital of Rs 1,100 crore in two years, the bank said in a statement. Investors in this round of capital raising 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. Additionally, Faering Capital, an existing investor in the Maharashtra-headquartered bank too participated in the second round. Vishwavir Ahuja, Managing Director and CEO, Ratnakar Bank said, “This equity raising 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.”  ...

International Finance Corporation (IFC) is looking to invest Rs 130 crore ($24 million) in Ratnakar Bank Ltd as part of the lender’s latest round of fundraising. The Kolhapur-based bank is raising Rs 325-330 crore ($60 million) from a set of 5-6 private equity investors. According to a January report published in Mint, the deal is being done at a valuation of Rs 2,500 crore and the new set of investors include Aditya Birla Private Equity, ICICI’s Emerging India Fund, IDFC Spice, Ascent Capital and Argonaut Ventures. In early 2011, Ratnakar Bank raised equity funding from India’s largest mortgage lender HDFC Ltd and also from a consortium of private equity investors including Norwest Venture Partners, Beacon India Private Equity Fund, Cartica Capital, Faering Capital, Gaja Capital Partners, TVS Shriram Growth Fund and Samara Capital, among others. The bank raised Rs 720 crore during that round. Its shareholding mix comprises 40 per cent retail shareholders and 60 per cent profe...

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