Connect with us

Hi, what are you looking for?


LVB to raise Rs 400 crore from institutional investors

lakshmi vials_mobile-appLakshmi 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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.