During the third quarter of the current fiscal year, which ended in December 2022, Bengaluru-based online brokerage business Zerodha Broking acquired a stake in RBL Bank (Q3 FY23). In Wednesday’s early trades, shares of RBL Bank were trading approximately 0.3% higher at 180 per share on the BSE.
According to the most current shareholding data published on the BSE, Zerodha Broking acquired 1.26% of the equity shares, or 75,53,944 shares, in the private lender between October 2022 and December 2022. In the prior September 2022 quarter, the brokerage had no ownership interest in the bank.
Private sector bank RBL Bank provides specialised services within five business verticals, including Corporate & Institutional Banking, Commercial Banking, Branch & Business Banking, Retail Assets, and Treasury and Financial Markets Operations. In the last year, the value of the banking stock has increased by more than 26%.
As of December 2022, Housing Development Finance Corporation Limited (HDFC) owns 1.47% of the bank, while
The Bengaluru-based brokerage Zerodha launched its operations in August 2010. Nithin Kamath, who was born on October 5, 1979, and his brother Nikhil Kamath started the business with their own money and have no debt. Through the Zerodha app, customers of the retail brokerage firm can trade in stocks, currencies, commodities, mutual funds, and bonds.
