Dhanlaxmi Bank to raise Rs 37.75 crore through issue of equity shares

Dhanlaxmi Bank is planning to raise Rs 37.75 crore through issue of 75.5 lakh equity shares of Rs 10 each with a premium of Rs 40 per share. The bank will allot equity shares of 10.5 lakh, 12.5 lakh and 52.5 lakh to investors B K Raveendran Pillai, Mohanachandran Nair B and and N V George respectively.

The allotment is as per rules of the Securities and Exchange Board of India, Capital and Disclosures Requirement, Reserve Bank of India, Union Finance Ministry and other relevant statutory authorities.

Dhanlaxmi Bank is an 84-year old bank with a network of over 275 branches and 460 ATMs covering 160 centers across 14 states, the bank services a broad customer base of 1.6 million. The bank provides a suite of banking products and services to its customers across Retail Banking, Wholesale Banking, Microfinance and Agricultural Lending and Small and Medium Enterprises Group.