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Ascent Capital, IDFC Spice among PE investors for Ratnakar Bank - 31-Jan-2013
Kolhapur-based Ratnakar Bank Ltd is set to raise Rs.330 crore from a group of domestic and global private equity (PE) investors by issuing 30 million new shares, pegging its value at Rs.2,500 crore. Domestic investors Aditya Birla PE, ICICI’s Emerging India Fund, IDFC Spice, Ascent Capital and Faering Capital have confirmed they will invest in the bank, a top Ratnakar Bank official said, declining to be identified because the deal has not yet been sealed.