Page 5 - Lakshmi Vilas Bank
Lakshmi Vilas Bank gains 16% on receiving non-binding offer from 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
 "Lakshmi Vilas Bank gains 16% on receiving non-binding offer from Clix Group")
PE investors, foreign banks taking majority stakes may rescue old pvt banks
Several of these banks were placed under the Prompt Corrective Action (PCA) framework of additional regulator scrutiny but this does not seem to have stemmed the rot
 "PE investors, foreign banks taking majority stakes may rescue old pvt banks")
Clix Group submits offer for up to 90% stake in Lakshmi Vilas Bank
Clix, backed by AION Capital, had submitted its letter of intent to LVB on June 15
Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group
The bank's weakening performance, rising slippages in corporate book and the impact on profitability and risk-weighted asset portfolio may further increase capital requirement
 "Lakshmi Vilas Bank gets indicative non-binding offer from Clix Group")
Top headlines: LVB gets non-binding offer from Clix, Future Group vs Amazon
From Lakhsmi Vilas Bank getting non-binding offer from Clix to India's richest getting richer amid lockdown, Business Standard brings you the top headlines of the day
Brickwork Ratings downgrades Lakshmi Vilas Bank's tier-II bonds
LVB's deposits ran down to Rs 23,565 crore in Q3FY20 and Rs 21,443 crore in Q4FY20
Punjab & Sind Bank, LVB get ratings downgrade on various bond programmes
Punjab & Sind Bank and Lakshmi Vilas Bank on Wednesday said rating firms have downgraded their bond programmes totalling over Rs 2,580 crore. CARE has downgraded the rating on various bonds issued by the bank totalling Rs 2,537.30 crore, Punjab & Sind Bank said in a regulatory filing. The ratings firm has downgraded the ratings on the bank's Rs 1,000 crore Basel III compliant tier-I bonds to CARE A from CARE A+. Among others, the ratings on lower tier-II bond issuances of Rs 300 crore, Rs 500 crore, Rs 237.30 crore and Rs 500 crore have been downgraded to CARE AA- (double A minus) from CARE AA each. The outlook on all the five bond issuances remains at 'negative', the public sector lender said. In a separate filing, private sector Lakshmi Vilas Bank (LVB) said Brickwork Ratings India has downgraded the rating from "BWR BB+" (credit watch with developing implications) to "BWR B+" (credit watch with negative implications) for its unsecured redeemable non-convertible subordinated
 "Punjab & Sind Bank, LVB get ratings downgrade on various bond programmes")
Clix Capital, Lakshmi Vilas Bank set to make a joint presentation to RBI
Clix will put forth details on the merger and state some of its key conditions critical for the deal to come through
 "Clix Capital, Lakshmi Vilas Bank set to make a joint presentation to RBI")
Clix Capital planning to raise upto Rs 2,500 cr through debentures
The company would raise funds through private placement of debentures in one or more tranches. It, however, did not elaborate on the purpose of raising funds.
 "Clix Capital planning to raise upto Rs 2,500 cr through debentures")
Will recover money from LVB, officials won't be pardoned: Religare chief
Religare Enterprises has said its NBFC arm Religare Finvest will be able to fully recover its fixed deposits, with an interest, of around Rs 950 crore from debt-ridden Lakshmi Vilas Bank
Kanorias likely to gain from Lakshmi Vilas Bank's boardroom battle
SREI may up stake; differences between Kanorias, promoter may have led to crisis
Lakshmi Vilas plans to raise at least Rs 500 crore through rights issue
Proposed right issue is to increase the capital adequacy ratio as lender pursue talks with Clix Capital for a proposed merger
Lakshmi Vilas Bank shortlists 3 names for MD, CEO post; to send list to RBI
The lender's chief executive S Sundar and six other directors were voted out by shareholders earlier this week
Lakshmi Vilas Bank, Clix Capital reaffirm commitment to ongoing merger
Major portion of due diligence completed; application to RBI is likely in one - two weeks
Turmoil at Lakshmi Vilas Bank: AGM drama, current situation and what next
How did a profitable bank founded 94 years ago to serve small businesses became a headless institution? Listen to the podcast to know more
Lakshmi Vilas Bank slips 5% amid concerns over Clix Capital deal
The RBI is learnt to have told state-owned Punjab National Bank to get ready to take over LVB in case the beleaguered lender's proposed transaction with Clix Capital does not materialise.
Top headlines: LVB working on backup plan; Amnesty shuts India operations
From low interest loans likely for Covid-19 vaccine companies to top companies eying a share in commercial coal auction, here are top headlines this morning
How Lakshmi Vilas Bank eroded its wealth amid controversy and losses
How did a profitable bank founded to serve small businesses in 1926 by a group of businessmen from the Vysya community - a trader caste based in southern and central India - come to this pass?
Lakshmi Vilas Bank crisis: Working on a back-up plan, says Shakti Sinha
The committee of directors is only a temporary arrangement till the name is approved by Reserve Bank of India, said Sinha
 "Lakshmi Vilas Bank crisis: Working on a back-up plan, says Shakti Sinha")
RBI sounds out PNB on acquisition of beleaguered Lakshmi Vilas Bank
Beleaguered bank is currently in merger talks with Clix Capital
