Lakshmi Vilas Bank to raise Rs 188.16 crore via preferential shares sale to Indiabulls Housing Finance
Updated : April 22, 2019 11:55 PM IST
Earlier this month, the private sector lender had announced its merger with Indiabulls Housing Finance Ltd (IBHL) in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach.
The board of LVB has approved the merger with IBHL in which shareholders of the bank will get 14 shares of IBHL for every 100 shares they hold.
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