Chennai-based Lakshmi Vilas Bank eyes growth, plans to raise Rs 10 bn

Lakshmi Vilas Bank (LVB) plans to raise another Rs 10 billion in equity capital, to support its growth. 

It is looking at various investors, including private equity entities, said P Mukherjee, managing director and chief executive. He said investors had shown interest but gave no names. 

Chennai-based LVB’s total business was about Rs 603 billion at the end of 2017-18. It had raised Rs 7.8 bn through an equity rights issue in the March quarter. 

The capital adequacy ratio was 9.81 per cent at end-March, from 10.38 per cent a year before.

Investors have shown interest in new-generation and mid-size