As negotiations progress between capital-starved Lakshmi Vilas Bank (LVB) and AION Capital-backed Clix Capital over a merger, sources in the know say Singapore-based private equity player Clermont Group has also joined the talks to pick up a sizeable stake in the bank.
With an investment of $150-200 million (Rs 1,100-1,500 crore), Clermont is eyeing a 15-20 per cent stake in LVB, say sources. “The capital infusion is likely to happen ahead of the merger with Clix and this should help the bank stay afloat till the merger is approved by the Reserve Bank of India (RBI) and concludes ...
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