In a bid to support its growth in the overall business, Lakshmi Vilas Bank is planning to raise around Rs 300 crore through qualified institutional placement (QIP).
The bank has traditionally been focusing on the small and medium enterprises segment. While it continues to focus on it, the other growth area would be personal loans, non-business retail and other retail products.
The bank’s retail advance, which is currently below Rs 10 crore, has grown 32 per cent on a year-on-year (y-o-y) basis. Total business mix of the bank improved from Rs 33,039.20 crore to Rs 41,019.12 crore at the end of September 2015, an increase of 24 per cent, y-o-y.
