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Lakshmi Vilas Bank QIP priced at Rs 72 per share

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The Economic Times
15th March, 2019 22:46 IST

KOLKATA: Private sector Lakshmi Vilas Bank has fixed the issue price for its qualified institutional placement at Rs 72 per equity share, around 9% more than the floor price for the issue.

The bank declared the closure of the issue in a regulatory filing to stock exchanges. Its Capital Raising Committee finalised the prices at a 15-minute meeting which concluded at 09.05 pm in the evening.

The bank's share price closed Friday at Rs 65.70 on BSE.

Sources in the bank said that multiple investors have subscribed to the issue. The final allotment of shares was not known at the time of going to press.

The lender had floated the QIP on March 7 as part of its Rs 2000-crore capital raising plan announced in June last year.

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