Dhanlaxmi Bank is planning to raise Rs 200 crore through qualified institutional placement (QIP) or rights issue by the end of this financial year to strengthen the its capital base and finance expansion of its businesses in northern and western part of the country.
In a separate development, the bank is exploring options to sell additional shares to non-resident Indian (NRI) businessmen. In this regard, the bank is in talks with some of these individual investors and aims to raise over Rs 60 crore in next couple of months through preferential share allotment.
At present, Resident individuals have 43.50% stake in the bank, while NRIs hold 8.90% share in the private lender. The remaining shares are with banks and financial institutions, corporate bodies and foreign institutional investors.
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.
In a separate development, the bank is exploring options to sell additional shares to non-resident Indian (NRI) businessmen. In this regard, the bank is in talks with some of these individual investors and aims to raise over Rs 60 crore in next couple of months through preferential share allotment.
At present, Resident individuals have 43.50% stake in the bank, while NRIs hold 8.90% share in the private lender. The remaining shares are with banks and financial institutions, corporate bodies and foreign institutional investors.
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.
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