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Dhanalaxmi Bank to mobilise Rs. 37.75 crore by issue of shares

PTI  Thrissur, Kerala , August 27, 2013
First Published: 19:20 IST(27/8/2013) | Last Updated: 19:27 IST(27/8/2013)

Private sector Dhanalaxmi Bank would mobilise Rs. 37.75 crore by issue of 75.5 lakh equity shares of Rs. 10 each with a premium of Rs. 40 per share.


A special resolution in this regard was passed at the 86th Annual General Meeting of the bank held in , Thrissur, Kerala on Tuesday, bank sources said.

Equity shares of Rs. 10.5 lakh, Rs. 12.5 lakh and Rs. 52.5 lakh would be allotted to investors BK Raveendran Pillai, Mohanachandran Nair B and and NV George respectively as per rules of the Securities and Exchange Board of India, Capital and Disclosures Requirement, Reserve Bank of India, Union Finance Ministry and other relevant statutory authorities.

Meanwhile addressing shareholders, the managing director and chief executive officer of the bank, PG Jayakumar said the bank could perform excellently for the fiscal fetching an operating profit of Rs. 51.40 crore for the fiscal 20l2-13,as against an operating loss of 97.90 crore for the previous year.

Jayakumar said the bank could earn a modest net profit of Rs. 2.62 crore for the year under review as against a loss of Rs. 115.63 crore in the year ago period.

Srikanth Reddy, MK Vijayaraghavan, P Mohanan, Chella K Srinivasan and K Jayakumar were re-elected directors of the Dhanlaxmi Bank Limited on Tuesday.

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