Lakshmi Vilas Bank has launched Qualified Institutional Placement (QIP) to raise over Rs 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 on December 28, approved the floor price for the QIP issue at Rs 141.15 per equity share.
Earlier, 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 QIP or Qualified Institutional Buyers (QIBs).
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.
