 "Dhanlaxmi Bank")
The Dhanvarsha group, a Delhi-based diversified business house, has made an unsolicited offer to buy out the old-generation private sector lender Dhanlaxmi Bank.
According to sources familiar with the development, Dhanvarsha has offered Rs 11.85 per share, totalling Rs 300 crore, to acquire the entire equity stake in the bank. On Thursday, the bank’s stock closed at Rs 11.95, down 0.83 per cent, on the BSE. At current levels, its market cap is Rs 302.35 crore.
Dhanvarsha has sent its proposal to the board members of the Thrissur-based bank. If the board clears the proposal, then the deal will need
