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Published 06:39 IST, December 24th 2024

Dhanlaxmi Bank Limited Rights Issue: Check Opening Date, Ratio, Issue Size, CMP, Record

The rights issue will open on January 8, 2025, and close on January 28, 2025.

Reported by: Business Desk
Dhanlaxmi Bank | Image: Dhanlaxmi Bank Instagram

Dhanlaxmi Bank Rights Issue: Thrissur-based private lender Dhanlaxmi Bank has announced a rights issue to raise Rs 297.54 crore, aiming to strengthen its capital base and support growth initiatives. The proposal, approved by the bank's Board on October 22, 2024, offers existing eligible shareholders the opportunity to purchase additional shares at Rs 21 per share.  

Dhanlaxmi Bank Rights Issue Opening, Closing Date

The rights issue will open on January 8, 2025, and close on January 28, 2025. The bank, known for its focus on gold loans, mentioned in an exchange filing that this capital infusion is part of a broader strategy to improve financial stability.  

Dhanlaxmi Bank Financial Performance

Dhanlaxmi Bank recently reported a net profit of Rs 25.8 crore for the second quarter, a strong turnaround from a net loss of Rs 8 crore in the previous quarter. On a year-on-year basis, the profit rose 11.4 per cent from Rs 23.16 crore recorded in the same period last year.

Revenue from the retail banking segment surged to Rs 219.6 crore in the September 2024 quarter, reflecting a 26.6 per cent increase from Rs 173.45 crore in the same period last year and an 18 per cent rise from Rs 186.76 crore in the previous quarter.

Shares of Dhanlaxmi Bank closed at Rs 40.35 apiece on the National Stock Exchange ( NSE ) on December 19, down marginally by 0.5 per cent. Despite the dip, the stock has gained over 30 per cent this year.  

What is a Rights Issue?  

A rights issue is a fundraising method where companies offer existing shareholders the opportunity to buy additional shares at a discounted price within a specified period. It is often used by companies in need of capital to stabilise finances or fund growth, according to Investopedia.

Updated 06:41 IST, December 24th 2024

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