Shares of RBL Bank rebounded in today’s trade after the company clarified certain media reports around transactions by employees in the shares of the bank.
RBL Bank has a Board-approved Code compliant with the provisions of SEBI (Prohibition of Insider Trading) Regulations 2015. The said Code lays down processes and procedures to be followed by the employees while trading in the securities (shares) of the Bank, the bank said in the filing.
Further, RBL Bank is a professionally managed entity, wherein ESOPS are an important component of an employee value proposition. The total employee holding in the Bank is 3.46cr shares (as of August 23, 2019) with over 25% of the employees holding such shares.
Market transactions in RBL Bank shares by employees is a routine activity with regular exercise of ESOPs and sale of equity shares thereafter. The ESOPs exercised and sale of equity shares by the employees for July 2019 is in line with the past. Further, no Management Committee member including Key Managerial Personal (KMP) have sold any shares on July 30, 2019, and thereafter till date, the bank stated.
RBL Bank is committed to provide full transparency to all its stakeholders in line with best practices on Corporate Governance.
RBL Bank Ltd is currently trading at Rs314.90, up by Rs1.25 or 0.4% from its previous closing of Rs313.65 on the BSE.
The scrip opened at Rs314.65 and has touched a high and low of Rs332.70 and Rs304.85 respectively.
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