Lakshmi Vilas Bank is currently trading at Rs. 63.50, up by 5.75 points or 9.96% from its previous closing of Rs. 57.75 on the BSE.
The scrip opened at Rs. 57.10 and has touched a high and low of Rs. 63.50 and Rs. 55.70 respectively. So far 343082 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 121.75 on 21-Jun-2018 and a 52 week low of Rs. 53.90 on 20-Jun-2019.
Last one week high and low of the scrip stood at Rs. 66.00 and Rs. 53.90 respectively. The current market cap of the company is Rs. 2031.45 crore.
The promoters holding in the company stood at 7.11%, while Institutions and Non-Institutions held 20.02% and 72.87% respectively.
The Competition Commission of India (CCI) has approved the proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance. In April 2019, Lakshmi Vilas Bank had announced its merger with Indiabulls Housing Finance in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach. The board of Lakshmi Vilas Bank had approved the merger with Indiabulls Housing Finance in which shareholders of the bank will get 14 shares of Indiabulls Housing Finance for every 100 shares they hold.
After the proposed merger, Indiabulls Housing Finance will get access to low cost deposits, geographical diversification and expanded client-base and cross-selling opportunities.
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.
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