Shareholders of Lakshmi Vilas Bank divided on merger with Clix group

Some large investors are uncomfortable with Clix group's proposal to take up to 90% stake in the bank

Topics
Lakshmi Vilas Bank | Clix Capital

Hamsini Karthik & Surajeet Das Gupta  |  Mumbai/New Delhi 

The board of directors at capital-starved Lakshmi Vilas Bank (LVB) are set to meet on Thursday to firm up a rights issue amounting to nearly Rs 1,000 crore. Deliberations on the proposed merger with Clix group may also be on the agenda, according to highly placed sources.

Clix group, represented by Clix Capital Services Private Limited, Clix Finance India Private Limited and Clix Housing Finance Private Limited, presented a non-binding merger offer to LVB on October 8. The meeting would be the first time that the board would formally review Clix’s proposal. While the finer ...

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First Published: Wed, October 14 2020. 20:36 IST
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