Dhanlaxmi Bank up 20%, to raise Rs 233 cr via pref issue

Moneycontrol Bureau

Investors lapped up shares of Dhanlaxmi Bank on Tuesday as the bank is planning to raise upto Rs 233 crore through preferential issue. The stock rallied as much as 20 percent intraday.

"The board of directors of the bank has approved to offer, issue, and allot 5,96,50,000 equity shares of Rs 10 each at a premium of Rs 29 per share aggregating to an amount of Rs 2,32,63,50,000 through preferential allotment," the bank said in its filing.

The private sector lender further said an extraordinary general meeting is scheduled to be held on March 29 to take necessary approval from shareholders for the preferential issue.