Dhanvarsha makes unsolicited offer of Rs.300-Cr to buy Dhanlaxmi Bank: report

The Dhanvarsha group, a Delhi-based diversified business house, has made an unsolicited offer to buy out the Thrissur, Kerala-headquartered, publicly listed Dhanlaxmi Bank. Dhanvarsha has reportedly offered INR 11.85 per share to acquire the entire equity stake in the bank. Dhanlaxmi Bank, with 245 branches, has posted a net loss of INR 26.43 crore as of June 2022 on advances of INR 8,724 crore. It has a capital adequacy ratio of 12.19%.