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Lakshmi Vilas Bank on Thursday said it has launched Qualified Institutional Placement (QIP) to raise over ₹599.88 crore by issuing 4.25 crore shares in domestic or international markets.
The Committee of Directors for Capital Raising of the bank, at a meeting held yesterday, approved the floor price for the QIP issue at ₹141.15 per equity share, the banksaid in a regulatory filing.
In May, the bank had informed that it will raise funds in one or more public or private offerings in domestic and/or international markets, either in the form of Qualified Institutional Placement (QIP) or Qualified Institutional Buyers (QIBs).
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