Lakshmi Vilas Bank Board To Meet On April 12 To Approve Fund-raising Plans
The board of private sector lender Lakshmi Vilas Bank will meet on April 12 to approve fund-raising plans as well as to prop up its Additional Tier I capital.
“The board of directors of the bank is scheduled to meet on April 12 to approve the issuance and allotment of equity shares, including by way of a preferential allotment,” the lender said in a regulatory filing.
It is also considering raising capital through issuance and allotment of Basel III-compliant Additional Tier-1 debt instruments in the nature of bonds, the bank further said.
The Tamil Nadu-based lender had, last week, announced plans to merge with Indiabulls Housing Finance through a share swap deal, in a move that is widely perceived to help improve its financial health.
In March, the lender had also raised ₹459.59 crore through a QIP to bolster its capital adequacy.
On Tuesday, the bank’s scrip fell 4.98 per cent to close at ₹92.50 apiece on the BSE, erasing gains made on Monday following news of the proposed merger.
USAA And U.S.VETS Expand Effort To Prevent Veteran Homelessness Before It Starts
New Financial Resiliency Program Combines Housing, Coaching and Financial Services to Help 50,000 Veterans Build Lasting... Read more
USAA Bank Launches New Rewards Credit Cards, Delivering Higher Value For Everyday Spending
New survey data shows consumers increasingly rely on rewards to offset everyday expenses, from groceries to gas Read more
USAA Names Mara Motherway Senior Vice President And Head Of Government Relations
Jul 09 2026 SAN ANTONIO — July 9, 2026 — USAA today announced the appointment of Mara Moth... Read more
USAA And Wounded Warrior Project Launch $5 Million Initiative To Help Veterans Build Financial Security During The Transition To Civilian Life
Warrior Secure Start is a purpose-built program that combines financial education, personalized coaching and empowerment... Read more
USAA To Honor Those Who Made 250 Years Of Freedom Possible
Through partnerships, events and community engagements, USAA will celebrate the service members whose sacrifices helped ... Read more
USAA Introduces Smoky: A K9 Ambassador Rooted In Military Heritage And Well-being
Company launches first-ever Chief Pawsitivity Officer and announces $60,000 grant to K9s For Warriors to support veteran... Read more