Dhanlaxmi Bank plans to raise around Rs 200 crore to strengthen its capital base. The board of directors of the bank at meeting last month has taken in-principle decision to raise the funds by issuing equity shares.
The move is part of the Thrissur-based private lender's turnaround plan under the new management. Earlier the bank's new chief executive PG Jayakumar had told shareholders that the lender was "leaving no stone unturned" to raise fresh capital.
The bank closed the first quarter of this financial year with a capital adequacy ratio of 10.36%. Senior officials of the bank said the lender aims to raise the funds by the end of this calendar year.
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