Investment23 Feb 2025, 01:21 am
Dhanlaxmi Bank Approves Rs. 300 Crores Fund Raise via Tier-II Bonds, Plans EGM for NCDs and Executive Director Appointment
AI Summary
Dhanlaxmi Bank Limited has announced its board's approval for raising funds up to Rs. 300 crores through the issuance of Basel III compliant Tier-II Bonds in the form of non-convertible debentures. The bank will hold an Extra Ordinary General Meeting (EGM) to seek shareholder approval for appointing Shri. P. Suriaraj as Executive Director and authorizing the board to issue redeemable secured or unsecured non-convertible debentures (NCDs). The board meeting for these decisions took place from 05.00 P.M to 07.40 P.M on February 22, 2025.
Key Highlights
- Dhanlaxmi Bank to raise Rs. 300 crores through Tier-II Bonds
- Bank to conduct Extra Ordinary General Meeting (EGM) for shareholder approval on appointing Executive Director and issuing NCDs
- Shri. P. Suriaraj appointed as Executive Director
- Board authorized to issue redeemable secured or unsecured NCDs
- Board meeting held on February 22, 2025, from 05.00 P.M to 07.40 P.M