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Lakshmi Vilas Bank, Indiabulls Housing Finance to be merged

By HindusthanSamachar | Publish Date: Apr 6 2019 4:14PM
Lakshmi Vilas Bank, Indiabulls Housing Finance to be merged
New Delhi, Apr.06(HS): The Chennai-based Lakshmi Vilas Bank and the second largest housing company Indiabulls Housing Finance Limited are going to be merged through share-swap deal. Every shareholder of Lakshmi Vilas Bank will get share of 0.14 in Indiabulls'' share. This merger will result in more diverse and healthy asset base. The joint company will be of value around 19472 crore rupees. A panel under Independent Director SS Mundra is to oversee the proceedings of this merger. Following this announcement, the share of both the companies registered bounce in their prices on stock market.In this merger, Lakshmi Vilas will get the benefits of good branding and pan-india presence of India Bulls Housing Finance while Indiabulls will get benefits of low cost of funds through the banking tag of Lakshmi Vilas Bank. According to IDBI Capial official, this will be win-win situation for both the merging companies. Hindusthan Samachar/Bharati/Pramod \
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