Lakshmi Vilas Bank rises 3% on rights issue announcement

Lakshmi Vilas Bank share price rose 3% in early trade after the company said its board is considering rights issue of securities.

Lakshmi Vilas Bank share price rose 3% in early trade after the company said its board is considering rights issue of securities.

“A meeting of board will be held on October 15, 2020 to consider and approve, the issue of securities of the bank to existing shareholders of the bank on a rights basis,” company said in a BSE regulatory filing.

The share of the private sector bank had touched its 52-week high Rs 26.95 recently.

The stock opened at Rs 19. At 10:48 am, it was trading at Rs 18.40 per share.