Money & Banking

Lakshmi Vilas Bank to raise ₹600 cr

PTI New Delhi | Updated on January 16, 2018 Published on December 29, 2016

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).

Published on December 29, 2016
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