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Our Bureau

Coimbatore, Nov. 10

The Karur-based Lakshmi Vilas Bank has fixed November 24 as the record date to determine the shareholders eligible for bonus andrights issues. In a communication to the NSE on Friday, the bank said the bonus shares would be issued in the ratio of 1:2 (one share for every two held).

The rights issue would be in the ratio of 1:1 (one share for every equity share held) at a price of Rs 50 per share (Rs 10 face value + Rs 40 premium) aggregating Rs 98.36 crore. However, the bonus shares would be excluded while determining the rights share entitlement, it said.

The bank's shares closed at Rs 137 on the NSE on Friday after touching a high of Rs 139.90. The volumes traded were 79,676.

More Stories on : Bonus Announcements | Rights Issue | Private Banks

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