Lakshmi Vilas Bank raises Rs 168 crore from its first ever QIP issue

Lakshmi Vilas Bank on Thursday said that it has raised nearly Rs 168 crore through its Qualified Institutional Placement (QIP). 

The issue was available for three days period starting from December 28, 2016 - December 31, 2016, at a value of Rs 140 - which included premium of Rs 130 per equity shares. 

For the QIP, Centrum Capital Limited acted as the sole book running lead manager and that of Khaitan & Co as legal advisor. 

The bank said, "This would be the first issue of Lakshmi Vilas Bank in its 90 years history. It reaffirms the bank's commitment to its growth trajectory."

Shares of Lakshmi Vilas Bank  was trading at Rs 138.30 per share on BSE, down by 0.40% at 3.12 pm. However, it rose to Rs 139.50-level when it announced the development.