Lakshmi Vilas Bank needs to collect Rs 1,500 crore for business growth

Lakshmi Vilas Bank (LVB) plans to collect about Rs 1,500 crore for funding business growth and attract foreign shareholding near about 74 per cent. LVB announced that they need approval from its shareholders for the proposals in the annual general meeting (AGM) on September 25. The meeting will be in audio/visual moods due to the pandemic. The bank has been seeking various options to raise funds.