LVB to seek RBI's permission to increase promoters' holding to 25%

Lakshmi Vilas Bank Ltd has decided to seek permission from the Reserve Bank of India (RBI) to increase the promoters’ holding to up to 25 per cent of the bank’s paid-up capital.

The bank on Thursday informed BSE that the board of directors had resolved to seek RBI’s permission for increasing promoters’ holding to 25 per cent and individual group holding up to 10 per cent of the paid-up capital.

At present, the promoters' shareholding is around 9.54 per cent, according to the information available with the BSE.