Mumbai: Dhanlaxmi Bank Ltd has informed the exchanges that it has raised Rs.84 crore equity funds from existing investors in exchange of preferential allotment to four investors. On 9 August, Mint had reported that Dhanlaxmi Bank is expecting Rs.120 crore in equity infusion from its existing shareholders this week to help bolster its weak capital position. At the end of March, Dhanlaxmi Bank had a capital adequacy ratio (CAR) of 7.51%, which is below the regulatory requirement of 9.625%. As per regulatory norms, the bank was required to have capital funds worth Rs.645 crore but had capital worth about Rs.504 crore as on 31 March, it said in disclosures on its website. At 10.11am, Dhanlaxmi Bank rose 11.6% to Rs.26.55 on the BSE, while India’s benchmark Sensex index fell 0.12% to 28,890.95 points.

Source: Mint September 08, 2016 06:11 UTC