Public Market

Secondary Issues

Dhanlaxmi Bank rights issue in 2 weeks as key investors, mgmt resolve differences

Business Line  

The long-standing tiff between the key investors led by B Ravindran Pillai and Gopinath of Dhanlaxmi Bank and the bank's management has been resolved. Consequently, the bank is set to roll out its rights issues for INR 120 crore at a price of INR 10 –10.5 a share in two weeks. With this fund raise, the bank's capital adequacy is set to increase from 12.98 % in FY22 to over 15%.