Last Updated : Apr 05, 2019 10:57 AM IST | Source: Moneycontrol.com
At 1046 hrs, Lakshmi Vilas Bank was quoting Rs 91.75, up 3.85 percent on the BSE
Shares of Lakshmi Vilas Bank (LVB) rallied 4 percent intraday on April 5 after reports of a merger with Indiabulls Housing Finance surfaced.
According to a report in The Economic Times, the two companies – the private sector bank and the home finance company – which have been discussing a possible merger for the past few months, have now reached a stage where a proposal can be formalised.
The two financial institutions are set to meet this week.
“The matter was supposed to come up before the LVB board sometime early March. However, the bank management had certain reservations about the suggested share-swap ratio. Indiabulls is now back with a revised share-exchange ratio that is said to be marginally better for the bank,” a person aware of the talks told the daily.
At 1046 hrs, Lakshmi Vilas Bank was quoting at Rs 91.75, up 3.85 percent on the BSE.
First Published on Apr 5, 2019 10:57 am