Lakshmi Vilas Bank has rallied 5% to Rs 73.85 after the private lender said it is planning to raise funds via rights issue to meet its funding requirements for branch expansion and growth capital.
The board of directors of the bank will meet on January 03, 2014, to consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank, Lakshmi Vilas Bank said in a regulatory filing.
The stock opened at Rs 73.20 and touched a high of Rs 74.20 on the BSE. A combined 256,000 shares have changed hands on the counter so far on the BSE and NSE.
The board of directors of the bank will meet on January 03, 2014, to consider and if thought fit, to approve the proposal for further issue of equity shares on rights basis, to existing shareholders of the bank, Lakshmi Vilas Bank said in a regulatory filing.
The stock opened at Rs 73.20 and touched a high of Rs 74.20 on the BSE. A combined 256,000 shares have changed hands on the counter so far on the BSE and NSE.
