New Delhi, Oct. 9 -- Shares of Lakshmi Vilas Bank (LVB) Ltd surged as much as 16.01% after the bank said it has received an indicative non-binding offer from Clix Group.

At 11.50 am, Lakshmi Vilas Bank shares were trading at Rs20.30 apiece, up 14.04% from its previous close, while the benchmark index, Sensex, gained 0.77% to 40,493.04.

"Further to the process of considering and evaluating the proposed amalgamation with M/s. Clix Capital Services Private Limited ("Clix Capital"), M/s. Clix Finance India Private Limited ("Clix Finance") and M/s. Clix Housing Finance Private Limited ("Clix Housing") (collectively, the "Clix Group"), we are glad to inform that, the Bank has received an indicative non-binding offer from Clix Group. The Bank ...