According to a Business Standard report, capital-starved private sector lender Lakshmi Vilas Bank
may soon have a suitor willing to pump money into it. According to sources, top executives at the Chennai-based bank submitted a list of potential investors to the Reserve Bank of India (RBI) on Wednesday, added report. CLICK HERE TO READ FULL REPORT
Meanwhile, Lakshmi Vilas Bank
clarified that the Bank is not aware of any such interest shown by companies viz., DBS Bank India or lndostar Capital Finance or Capri Global or any other private sector bank as mentioned in the articles. The Bank hence denies the news
articles pertaining to the same, it added.
The Bank made clarification with reference to news
appeared in www.moneycontrol.com dated February 7, 2020 quoting "DBS, Indostar Capital among suitors for Lakshmi Vilas Bank as RBI plays matchmaker."
In October 2019, the stock of the private sector lender hit a record low of Rs 13.35 after the RBI rejected the proposed amalgamation of lndiabulls Housing Finance with the bank.
In the past 10 months, the stock has tanked 85 per cent, as compared to a 7 per cent rise in the S&P BSE Sensex till Thursday. It hit a 52-week high of Rs 97.35 on April 8, 2019.