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Dhanlaxmi Bank Ltd is planning to raise capital of about Rs 233 crore through preferential allotment of shares to a group of individual investors.
The bank’s shares rose as much as 20 per cent on the share sale reports on Tuesday.
The Board of Directors of the Bank has approved on March 01, 2014 to offer, issue, and allot 5,96,50,000 equity shares (57.65 million) of ` 10 each at a premium of Rs 29 per equity share…,” the bank informed the Bombay Stock Exchange.
It will hold an Extraordinary General Meeting (EGM) on March 29, to take necessary approval from the share holders.
Dhanlaxmi Bank has been struggling to raise capital in recent years and has been under close monitoring of the RBI due to its weak financial position.
The shares of Dhanlaxmi Bank ended stronger by 14.5 per cent to close at Rs 34.20 per share on the BSE.
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