India, April 16 -- Lakshmi Vilas Bank has received approval for allotment of around 1.68 crore equity shares of face value of Rs l 0 each, at a price to be the higher of the price determined and arrived at in the manner as set out in the Securities and Exchange Board of India and the price determined for the purpose of the proposed scheme of amalgamation between Indiabulls Housing Finance and the Bank, to Indiabulls Housing Finance on a preferential basis. The Board of Directors of the Company at its meeting held on April 12, 2019 has approved the same.

Lakshmi Vilas Bank offers a wide range of services such as Deposits, loan, MSME, Online Services, NRI services, Wealth Management Services and Personal banking services etc.

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