Kolkata: Private sector Lakshmi Vilas Bank said it will issue up to 15 crore equity shares or use instruments convertible into equities such as qualified institutions placement, American depository receipts, global depository receipts or foreign currency convertible bonds as it looks to raise about Rs 1500 crore.
The capital will be raised at a premium over Rs 10 face value per equity.
It has hired IIFL Holdings Ltd as lead manager and JP Morgan India Private Ltd as strategic advisor towards this end, the bank said in a regulatory filing to stock exchanges.
It has also decided to raise about Rs 250 crore in bonds in private placement deals.
The board has cleared the capital raising plan Tuesday.
The capital will be raised at a premium over Rs 10 face value per equity.
It has hired IIFL Holdings Ltd as lead manager and JP Morgan India Private Ltd as strategic advisor towards this end, the bank said in a regulatory filing to stock exchanges.
It has also decided to raise about Rs 250 crore in bonds in private placement deals.
The board has cleared the capital raising plan Tuesday.