January 5, 2017, Chennai: The Lakshmi Vilas Bank Limited (“Bank”) is pleased to announce that it has raised Rs. 1678 million through Qualified Institutional Placement (“QIP”). The equity shares were priced at Rs. 140.00 (including premium of Rs 130 per equity share). The issue opened on December 28, 2016 and was 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.