Dhanlaxmi Bank is planning to mop-up capital of around Rs 233 crore through preferential allotment of shares to a group of individual investors. In this regard, the company will hold an Extraordinary General Meeting (EGM) on March 29, to take necessary approval from the share holders.
The Board of Directors of the Bank has already approved, on March 01, 2014, to offer, issue, and allot 5,96,50,000 equity shares (57.65 million) of Rs 10 each at a premium of Rs 29 per equity share.
Dhanlaxmi Bank has been struggling to raise capital in recent years and has been under close monitoring of the RBI due to its weak financial position.
