The Capital Raising Committee of Lakshmi Vilas Bank Ltd (the "Committee") at its meeting held today i.e., March 15, 2019, has declared the closure of the QIP today i.e. on March 15, 2019 pursuant to the receipt of applications from eligible qualified institutional buyers in accordance with the terms of the QIP which opened on March 07, 2019.
The committee determined and approved the issue price of Rs. 72 per Equity Share (including premium of Rs. 62 per Equity Share) determined in accordance with Regulation 176(1) of the SEBI ICDR Regulations for the Equity Shares to be issued to the eligible qualified institutional buyers in the QIP.
The meeting of the Capital Raising Committee of the Bank commenced at 08.50 p.m. and concluded at 09.05 p.m.
Shares of LAKSHMI VILAS BANK LTD. was last trading in BSE at Rs.67.45 as compared to the previous close of Rs. 70.15. The total number of shares traded during the day was 42580 in over 383 trades.
The stock hit an intraday high of Rs. 71 and intraday low of 67.4. The net turnover during the day was Rs. 2923871.