Lakshmi Vilas Bank is trading higher by 4% at Rs 68.90 after the private sector bank said it plans to raise Rs 505 crore through a rights issue from its existing shareholders.
The bank has filed a draft letter of offer in connection with the proposed rights issue with the Securities and Exchange Board of India (Sebi) seeking in-principle approval of the issue, Lakshmi Vilas Bank said in a regulatory filing.
The stock opened at Rs 67.40 and touched a high of Rs 69.50 on the NSE. A combined 223,000 shares changed hands on the counter so far on the NSE and BSE.
The bank has filed a draft letter of offer in connection with the proposed rights issue with the Securities and Exchange Board of India (Sebi) seeking in-principle approval of the issue, Lakshmi Vilas Bank said in a regulatory filing.
The stock opened at Rs 67.40 and touched a high of Rs 69.50 on the NSE. A combined 223,000 shares changed hands on the counter so far on the NSE and BSE.
