 "lakshmi vilas bank")
Lakshmi Vilas Bank (LVB) is planning to raise around Rs 188.16 crore from Indiabulls Housing Finance Ltd (IHFL) through a preferential allotment of 16.8 million equity shares of the bank at Rs 112 per share.
Shareholders of LVB will get 14 shares of IBHF for every 100 equity shares held in the bank during the merger between the Bank and IHFL.
IHFL has offered its support in the interim, while it waits for regulatory approvals for the merger. The bank has been facing a capital crunch and this has impacted its growth in the recent quarters.
LVB said post the preferential issue the
