Lakshmi Vilas plans to raise 350 cr from 40% stake sale

Lakshmi Vilas Bank (LVB) will dilute 40% equity to raise funds from a share sale to boost its capital and raise lending. The bank will raise funds from selling shares once market conditions improve. The bank has a market value of about 950 crore, which indicates that at current prices it may aim to raise about 350 crore. The bank is not in a hurry to grow its books, given the rising interest rates that are putting pressure on bank margins. The bank is contemplating mortgage lending, but is yet to finalize.crackcrack