LVB Plans To Increase Rs 350 Crore From 40% Stake Sale

Lakshmi Vilas BankLVB (Lakshmi Vilas Bank ) will dilute a 40per-cent equity to increase cash from a stock sale to enhance its capital and increase lending. The bank will increase funds through selling stocks once market environments increase, said Lakshmi Vilas Bank MD and CEO, PR Somasundaram.

“That means a dilution close to 40percent stake,” mentioned Mr Somasundaram. The bank has a market value of around Rs 950 cr , that implies that at present prices it may aim to increase around Rs 350 cr.

The bank isn’t in a hurry to develop its books, given the increasing rates of interest which are putting pressure on bank-margins.

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