Lakshmi Vilas Bank vaults on fund raising plan

Lakshmi Vilas Bank rose 1.43% to Rs 117.05 at 15:06 IST on BSE after the bank scheduled a board meeting on 26 June 2018 to consider fund raising proposals.

The announcement was made during market hours today, 21 June 2018.

Meanwhile, the S&P BSE Sensex was down 114.61 points, or 0.32% to 35,432.72.

On the BSE, 2.38 lakh shares were traded in the counter so far, compared with average daily volumes of 2.79 lakh shares in the past two weeks. The stock had hit a high of Rs 121.75 and a low of Rs 112.95 so far during the day. The stock hit a record high of Rs 194.70 on 6 July 2017. The stock hit a 52-week low of Rs 88.20 on 30 April 2018.

The small-cap bank has equity capital of Rs 255.88 crore. Face value per share is Rs 10.

The board of directors of Lakshmi Vilas Bank scheduled a board meeting on 26 June 2018 to consider further issue of equity shares or equity linked securities of the bank through one or more modes including but not limited to Qualified Institutions Placement/ American Depository Receipts/ Global Depository receipts and, raising of funds by issue of bonds/ debentures/ or other debt securities of the bank on private placement basis.

Lakshmi Vilas Bank reported net loss of Rs 622.25 crore in Q4 March 2018 as compared with net profit of Rs 52.16 crore in Q4 March 2017. Total income fell 14.34% to Rs 740.91 crore in Q4 March 2018 over Q4 March 2017.

Lakshmi Vilas Bank is a full-fledged commercial bank.

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