Lakshmi Vilas Bank shareholders will get 14 shares of Indiabulls Housing Finance for 100 equity shares held. According to The Economic Times , Lakshmi Vilas Bank has total assets of Rs 40,429 crore and capital and reserve of Rs 2,328 crore as of 31 March, 2018, Indiabulls Housing Finance had total assets of Rs 1,31,903 crore and consolidated net worth of Rs 17,792 crore at the same date.
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Following the development, shares of Lakshmi Vilas Bank fell 0.95 per cent lower to Rs 88.35, whereas those of Indiabulls Housing Finance were ruling at Rs 833, down 0.20 per cent. Earlier this month, the private sector lender had announced its merger with Indiabulls Housing Finance in a share-swap deal.
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There is no NPA in this sector, according to P Mukherjee, MD & CEO. Private sector lender Lakshmi Vilas Bank (LVB) on Monday reported a net loss of `373.49 crore for the third quarter of the current.
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Private-sector lender Lakshmi Vilas Bank (LVB) on Monday said its board would meet on April 22 to discuss the price and date of preferential equity shares to be issued to Indiabulls Housing.
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Lakshmi Vilas Bank (LVB) reported net loss of Rs 132.31 crore in the second quarter ended September 30, on account of mounting bad loans. The private sector lender had registered a net profit of Rs 10.
MUMBAI (Reuters) – Indian private sector lender Lakshmi Vilas Bank Ltd expects bad loan additions in the second-half of the fiscal year to be less than half of the about 9 billion rupees ($138.2.
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Private-sector lender Lakshmi Vilas Bank’s board on Friday approved a merger with mortgage lender Indiabulls Housing Finance Ltd in the latest incidence of a bank combining with a non-banking finance company.
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