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Lakshmi Vilas Bank Gets Green Signal to Raise Rs. 800 cr
October 03, 2017
Private sector Lakshmi Vilas Bank has received a nod from its board of directors to raise up to Rs. 800 crores worth of capital with the issuance of equity shares on rights basis to its existing shareholders.
The Capital Raising Committee has been authorized by the Board to decide the terms and conditions for the rights issuance. These cover the issues related to price and size, timing, record date, etc. These aspects will be discussed with the lead manager of the rights issue.
Lakshmi Vilas Bank marked a shift in its operations recently and decided to focus more on home loans, gold loans, etc. rather than large corporates.
