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Kanorias likely to gain from Lakshmi Vilas Bank's boardroom battle

SREI may up stake; differences between Kanorias, promoter may have led to crisis

Topics
Sunil Kanoria | Lakshmi Vilas Bank | Clix Capital

Hamsini Karthik & Raghu Mohan  |  Mumbai 



Lakshmi Vilas Bank
While SREI can technically hike its stake to 10 per cent with the Reserve Bank of India’s (RBI’s) approval, “it is too early to state if it will, indeed, exercise this option,” said a source.

(LVB) is readying up a rights issue of around Rs 500 crore even as it works on a merger with . The rights issue opens up a window of opportunity for SREI to raise its stake in the bank, which is currently at 3.34 per cent.

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First Published: Fri, October 02 2020. 06:05 IST

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