The Hindu Business Line : LVB rights issue

Coimbatore: Karur-headquartered Lakshmi Vilas Bank has informed the stock exchanges of its decision to raise Rs 265.48 crore via rights issue. The bank plans to issue 49,164,453 equity shares on rights basis in 1:1 ratio. The issue price has been fixed at Rs 54 a share (inclusive of Rs 44 towards share premium). The proposed infusion of capital is expected to strengthen its capital adequacy ratio and augment its capital base. — Our Bureau

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