Lakshmi Vilas Bank raises Rs 168 crore via QIP

The bank is also looking at improving its branch network

Private sector lender Lakshmi Vilas Bank has raised Rs 168 crore via qualified institutional placement to increase its capital base. However, the bank has an approval from its board to raise up to Rs 600 crore and so it is likely to raise more capital in the coming months. Apart from shoring up its capital adequacy ratio, the bank which was at only 10.10% at the end of quarter ended September is also looking at raising capital to augment its growth plans.

Centrum Capital was the sole lead manager to the issue. Commenting on the deal, Gaurav