Dhanlaxmi Bank Limited — QIP/Rights/Pref., 19-12-2024: Rights Issue

Dhanlaxmi Bank has announced a board meeting to finalize the details of a rights issue aimed at raising up to ₹300 crore. The issue will consist of approximately 14.17 crore fully-paid equity shares at an issue price of ₹21.00 per share, including a premium of ₹11.00. The record date for eligibility is set for December 27, 2024, with the rights issue period commencing on January 8, 2025, and closing on January 28, 2025. Eligible shareholders will receive an entitlement ratio of 14 new shares for every 25 shares held. This strategic move is designed to bolster capital reserves and enhance financial stability.