DBS merger: Lakshmi Vilas Bank's shareholders set to contest move to wipe out equity

All of the bank's equity, including the shareholding of Indiabulls Housing Finance (4.99%), Srei Infrastructure Finance (3.34%), Capri Global (3.82%) and promoter ownership of 6.8%, as well as stakes held by retail investors, are set to be extinguished as the draft scheme of amalgamation says that the entire paid-up capital of the bank will be written off.

from Banking/Finance-Industry-Economic Times https://ift.tt/36LCkYJ