Financial Daily from THE HINDU group of publications
Sunday, Jan 30, 2005
Financial Daily from THE HINDU group of publications Sunday, Jan 30, 2005 |
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Money & Banking
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Private Banks Markets - Rights Issue Lakshmi Vilas Bank rights issue at Rs 45 premium Our Bureau
Bangalore , Jan. 29 LAKSHMI Vilas Bank has decided to come out with a rights issue in the ratio of 7 shares for every 10 shares held. A bank release said the rights issue would be priced at Rs 55 a share or a premium of Rs 45. The paid-up equity capital of the bank currently comprises 1,15,08,902 equity shares (Rs 11.50 crore). About 79 per cent of the bank's equity is publicly held. Private corporate bodies hold another 10.72 per cent. Domestic banks and financial institutions another 4.16 per cent and the promoter group 1.66 per cent. The remaining holding is distributed between foreign institutional investors, domestic mutual funds and overseas corporate bodies.
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