Lakshmi Vilas Bank opts for direct listing on BSE

Lakshmi Vilas Bank today said it has opted for direct listing on Bombay Stock Exchange (BSE) to enhance liquidity in the shares and expand its investors' base.

The direct listing will help the bank to reach out to 13,300 trading terminals across 295 cities in India. Investors will get an additional forum to purchase or sell the shares of Lakshmi Vilas Bank.

"The bank decided to shift from 'permitted category' to direct listing as it will give visibility to the bank's scrip through BSE website," PR Somasundaram, managing director and chief executive of Lakshmi Vilas Bank, said.

"BSE is ranked fifth by the world federation of exchanges in terms of handling of transactions through its electronic trading system and the benchmark index Sensex is the most widely followed parameter of the Indian economy, so it certainly is a place to have your shares listed," he added.

The bank currently has presence in 15 states and one union territory in India.