Dhanlaxmi Bank Limited has raised Rs. 70 crore ($13 million) through issuance of equity shares, by way of a qualified institutional placement (QIP).
ICICI Securities Limited and Motilal Oswal Investment Advisors Private Limited were the Book Running Lead Managers (BRLM) to the Issue.
Luthra & Luthra Law offices advised both the Bank and BRLMs. Luthra team was led by Partner Manan Lahoty along with Senior Associate Ravi Dubey and Associates Aditi Venkatasubramanian, Aashima Johur and Faiza Rahman.
The Bank has also made a preferential allotment of approximately Rs. 35 crore.