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LVB to allot near 5% shares to Indiabulls Housing Finance

Lakshmi Vilas Bank (LVB) on Monday said it plans to allot nearly 5% equity shares on a preferential basis to Indiabulls Housing Finance Ltd (IBHL). It is expected that the relevant date (of allotment of equity) could be by the end of April 2019, it added. The board of LVB has approved the merger with IBHL in which shareholders of the bank will get 14 shares of IBHL for every 100 shares they hold. However, the RBI is yet to examine the merger proposal.

Read More at Moneycontrol News date : 15 Apr 2019, Monday

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