Lakshmi Vilas Bank is planning to raise capitals by selling shares to new institutional investors, according to its MD Parthasarathi Mukherjee. He said the bank will be raising between Rs 300 crore and Rs 400 crore from institutional investors through qualified institutional placement or preferential route. The funds raised will be used to expand balance sheet, improve profitability and cut costs. He said the bank targets that growing the net profit by 15-20 times by March 2026 from Rs 180 crore. He said the bank also targets to increase the return on asset of the bank to 1% in the next three years from 0.72% in March 2016.
