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ET first reported on May 28 that Lakshmi Vilas Bank has hired JP Morgan to find a buyer for a controlling interest in the lender and has received indicative interests from private equity funds and DBS.
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The old private sector lender, which reported a deterioration in its asset quality in the second quarter, will look at pulling itself up in the next two years as it aims to raise Rs 800 crore this.
The promoters exiting the real estate business or at least making it debt-free should also help get the RBI go ahead.
Land for Sale in Vilas, NC have a median listing price of $326,950 and a price per square foot of $176.
Private sector lender Lakshmi Vilas Bank Saturday said it has raised Rs 459.59 crore through qualified institutions placement (qip). The Chennai-headquartered lender said it has raised funds at.
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The proposed merger of Lakshmi Vilas Bank with Indiabulls Housing Finance will create. But since then, Indiabulls Housing Finance bought 40 per cent stake in British lender OakNorth Bank in 2015.