Lakshmi Vilas Bank gains 16% on receiving non-binding offer from Clix Group

Shares of Lakshmi Vilas Bank (LVB) surged 16 per cent to Rs 20.60 on the BSE on Friday after the private sector lender said that it had received an indicative non-binding offer from the Clix Group.

The offer suggests the private equity firm comprising Clix Capital Services Private Limited, Clix Finance India Private Limited and Clix Housing Finance Private Limited would be amalgamated with LVB.

“Further to the process of considering and evaluating the proposed amalgamation with Clix Capital Services Private Limited ("Clix Capital"),  Clix Finance India Private Limited ("Clix Finance") and Clix Housing Finance Private Limited ("Clix