Lakshmi Vilas Bank gains 5% on report Clermont Group eyes stake purchase

With an investment of $150-200 million (Rs 1,100-1,500 crore), Clermont is eyeing a 15-20 per cent stake in Lakshmi Vilas Bank

Shares of Lakshmi Vilas Bank surged 5 per cent to Rs 22.15 on the BSE on Friday after Business Standard reported that Singapore-based private equity player Clermont Group is in talks to pick up a sizeable stake in the bank. This round of capital infusion, if approved, could help LVB increase its capital adequacy from 3.45 per cent as on December 31, 2019, to over 7-8 per cent. 

At 11:17 am, the stock was trading 3 per cent higher at Rs 21.75 apiece on the BSE as against 95 points, or 0.26 per cent, rise in the S&P BSE Sensex at