Lakshmi Vilas Bank has received an approval to raise funds by way of issue of equity shares on rights basis to existing shareholders of the Bank (Rights Issue) for an amount up to Rs 800 crore on such terms and conditions as may be decided by the Board of Directors/Capital Raising Committee of the Board of the Bank, subject to all applicable statutory and regulatory approvals. The board of directors at its meeting held on September 27, 2017 has approved for the same.
The Board authorized the Capital Raising Committee of the Board of the Bank to determine the terms and conditions of the Rights Issue including the rights entitlement ratio, the issue price, issue size, record date, timing of the issue and other matters, which shall be decided in consultation with the Lead Manager to the Rights Issue.
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.
