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Lakshmi Vilas Bank may raise Rs 250 cr through QIPs

Private sector lender Lakshmi Vilas Bank may raise about Rs 200-250 crore through qualified institutional placement of shares. The bank had announced in June last year to raise Rs 2,000 crore. The QIP was floated on March 7 with a floor price of Rs 65.96 per equity share. The bank may raise further Rs 250-300 crore through issue of perpetual tier-2 bonds. Its capital adequacy ratio sharply fell to 7.57% at the end of December last year from 9.67% three months ago. The lender has reported losses for five successive quarters.

Read More at The Economic Times News date : 15 Mar 2019, Friday

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