It is expected that the relevant date (of allotment of equity) could be by the end of April 2019, it added.Earlier this month, the private sector lender had announced its merger with Indiabulls Housing Finance Ltd (IBHL) in a share-swap deal with an intent to create a combined entity with larger capital base and wider geographical reach.LVB shares closed 1.99 per cent of the banks post-money equity," LVB said in a statement.New Delhi: Lakshmi Vilas Bank (LVB) on Monday said it plans to allot nearly 5 per cent equity shares Sit-stand desks for sale on a preferential basis to Indiabulls Housing Finance Ltd."This does not presuppose any capital augmentation on account of the proposed merger, which would only conclude after receipt of all regulatory approvals," it added. However, it is not to be considered as a capital raising means before their proposed merger.55 per cent up at Rs 834.
The combined entity, with employee strength of 14,302, will have a loan book size of Rs 1. However, the Reserve Bank (RBI) is yet to examine the merger proposal of the bank and the NBFC.65 per cent down at Rs 89.The board of LVB has approved the merger with IBHL in which shareholders of the bank will get 14 shares of IBHL for every 100 shares they hold.20 on BSE, while IBHL closed 0.After the proposed merger, IBH will get access to low cost deposits, geographical diversification and expanded client-base and cross-selling opportunities.