The board of Lakshmi Vilas Bank Ltd. (LVB) on Monday approved the issue of 1.68 crore equity shares to Indiabulls Housing Finance Ltd. (IBHF) at ₹112 per share, subject to shareholders’ approval.
In this regard, an extraordinary general meeting (EGM) will be held on May 20.
LVB board would issue the equity shares with a face value of ₹10 each at ₹112 per share on a preferential basis to Indiabulls Housing Finance, after obtaining the shareholders approval at the EGM.
On Monday, the shares lost 4.56% to close at ₹79.55 on the BSE.
