Lakshmi Vilas Bank falls 6% after fixing rights issue ratio

Lakshmi Vilas Bank fixed rights issue in the ratio of 1:3 i.e. one rights equity share for every three equity shares held by the eligible shareholders on the record date.

Lakshmi Vilas Bank has dipped 6% to Rs 170 on the BSE in intra-day trade after the private sector lender fixed rights issue in the ratio of 1:3 i.e. one rights equity share for every three equity shares held by the eligible shareholders on the record date.

The bank has fixed December 06, 2017 as the record date for the purpose of rights issue of equity shares. The stock will turn for ex-rights on December 05, 2017 on the BSE and NSE.

“The rights issue of 64.50 million equity shares to be offered at price of Rs 122