Monday, 8 April 2019

Lakshmi Vilas Bank And Indiabulls Housing Merger On Cards

Is the announced merger between Lakshmi Vilas Bank and Indiabulls Housing Finance a marriage made in heaven? It feels like a marriage of convenience.

The share swap ratio of 0.14:1, or 14 shares of IHF for every 100 shares of LVB has been agreed upon by the respective boards of directors. This implies a 35 percent premium to the closing price of LVB as of April 5, 2019 and 63 percent premium to the last six months' average price.

Reacting to the news, Lakshmi Vilas Bank rose 5 percent while Indiabulls Housing Finance slipped a little over 3 percent in trade.

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1 comment:

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