Dhanlaxmi Bank To Raise Funds
Dhanlaxmi Bank is proposing to raise R51 Cr through preferential allotment.
The bank is considering raising the funds by issuing 85 lakh equity shares at an issue price of R60 per share.
Fund raise is meant for augmentation of its long-term capital.
An earlier disclosure by the company had stated that it is proposing to raise R200 Cr by through QIP.
In March last year, it was planning to exit Destimoney Securities Pvt. Ltd. by selling its 15% stake as RBI raised objection to the old-generation private sector bank being categorised as the dominant promoter group.
Incorporated in 1927, Dhanlakshmi Bank has a pan-India presence through a network of 275 branches, 459 ATMs covering 136 centers across 14 states. As on March 2011, bank's deposits were at Rs.12,529.6 Cr with advances at Rs. 9,065.2 Cr and an asset base of Rs. 14,268.2 Cr.
Among the private sector banks, Indian rooted foreign businessman Yusuffali MA, leading the $5.5 Bn LuLu group in the Middle-East, was on the verge of acquiring a minority stake in his hometown, Kerala based bank Catholic Syrian Bank (CSB).
IFC was planning to invest around $24 Mn in The Ratnakar Bank Ltd. through a preferential allotment last month.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 2013-03-18 | Dhanlaxmi Bank - Fund Raise | IPO / Offerings | 9.42 | |
| 2012-03-23 | Destimoney Securities - Dhanlaxmi Bank (Exit) | M&A | - | |
| 2011-05-26 | Dhanlaxmi Bank - Wolfensohn Capital, Multiples, Others | Private Equity |
Mount Kellett Capital Partners Customers Bancorp, Inc Wolfensohn & Company LLC (Wolfensohn Capital Partners) Multiples Alternate Asset Management Private Limited |
62.00 |
| 2010-10-28 | Destimoney Securities - Dhanlaxmi Bank | Private Equity |
Dhanlaxmi Bank Limited |
2.93 |
| 2010-07-20 | Dhanalaxmi Bank's QIP | IPO / Offerings | 80.50 | |
| 2010-07-19 | Dhanalakshmi Bank - QIP | IPO / Offerings | 80.87 | |
| 2010-02-11 | Dhanalaxmi Bank - Unknown Asset(AMC) | M&A |
Dhanlaxmi Bank Limited |
- |
| 2003-10-31 | B2K Corp - Oak Investment Partners, | Venture capital |
Oak Investment Partners Dhanlaxmi Bank Limited India Technology Venture Unit Scheme |
4.10 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 13/03/2013 | IPO / Offerings | - | - | 7.36 | Completed |
| 22/02/2013 | IPO / Offerings | - | - | 2.24 | Completed |
| 13/02/2013 | IPO / Offerings | - | - | 55.60 | Completed |
| 07/12/2012 | IPO / Offerings | - | - | 14.87 | Completed |
Company | ||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Dhanlaxmi Bank Limited | P Raja Mohan Rao | Dhanalakshmi Buildings, Naickanal |
State Bank of India HDFC Bank Limited ICICI Bank Limited IDBI Bank Limited City Union Bank Limited Lakshmi Vilas Bank Limited |
http://www.dhanbank.com |
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