Lakshmi Vilas Bank is currently the top gainer on the BSE, hitting the 10% UC of the day at Rs.22.35. Almost 3 lakh pending buys remained on the counter.
The market is happy with its news that the mutual due diligence process between the Bank and Clix Group was nearly complete and the parties are in discussions on the next steps.
If one may recollect, the Bank in June, had signed a Letter of Intent with Clix Group - Clix Capital Services Private Limited and Clix Finance India Private Limited for a merger.
Post this merger, the entire shareholders’ fund of Clix Capital of around Rs 1,900 crore and assets of around Rs 4,600 crore, will get amalgamated into the bank