LVB to allot near 5% shares to Indiabulls Housing Finance

Lakshmi Vilas Bank (LVB) on Monday said it plans to allot nearly 5 per cent equity shares on a preferential basis to Indiabulls Housing Finance Ltd. “The bank is proposing to make a preferential allotment to Indiabulls Housing Finance to the extent of 4. 99 per cent of the bank’s post-money equity,” LVB said in a statement. 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. However, the Reserve Bank (RBI) is yet to examine the merger proposal of the bank and the NBFC.

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