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Lakshmi Vilas Bank raises Rs 459 crore via qualified institutions placement

The Chennai-headquartered lender said it has raised funds at the rate of Rs 72 per share.

twitter-logo PTI        Last Updated: March 16, 2019  | 18:52 IST
Lakshmi Vilas Bank raises Rs 459 crore via qualified institutions placement

Private sector lender Lakshmi Vilas Bank Saturday said it has raised Rs 459.59 crore through qualified institutions placement (QIP).

The Chennai-headquartered lender said it has raised funds at the rate of Rs 72 per share.

"This fundraising via QIP will help the bank in strengthening its capital base and will enable the bank to further raise tier II capital," Lakshmi Vilas Bank said in a statement.

The QIP closed on March 15, 2019.

SREI Capital Market Ltd acted as the book running lead manager to the QIP issue.

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