Lakshmi Vilas Bank plans to raise over Rs 1,250 crore through various instruments. The bank will tap both domestic and global markets for the funding. The decision was taken at the bank's annual general meeting held on July 18, 2017.
The private sector bank will issue 5 crore equity shares. Of the total amount of Rs 1,256 crore, it will raise Rs 250 crore by floating long-term infrastructure bonds in one or more tranches in domestic or overseas markets within a year.
Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.