The Lakshmi Vilas Bank Limited raises Rs. 1678 million through QIP

The Lakshmi Vilas Bank Limited has successfully raised Rs. 1678 million through Qualified Institutional Placement (QIP). The equity shares were priced at Rs. 140 (including premium of Rs. 130 per equity share). The issue opened on December 28, 2016 and closed on December 31, 2016. Centrum Capital Limited acted as the sole Book Running Lead Manager to the QIP and Khaitan & Co acted as Legal Advisor to the QIP.

This QIP issue is the first for the Bank in its 90 years history and reaffirms the bank's commitment to its growth strategy.

Shares of LAKSHMI VILAS BANK LTD. was last trading in BSE at Rs.138.25 as compared to the previous close of Rs. 138.85. The total number of shares traded during the day was 22146 in over 329 trades.

The stock hit an intraday high of Rs. 141.6 and intraday low of 137.45. The net turnover during the day was Rs. 3078571.

Source : Equity Bulls

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