Clix group makes an indicative non-binding offer for Lakshmi Vilas Bank

Clix Capital has made a non-binding offer for Lakshmi Vilas Bank, Pramod Bhasin, Founder & Chairman, Clix Capital told CNBCTV18. He said it is now for the bank’s board to decide.

Bhasin did not specify how much money Clix was looking to put into LVB, other than saying that Clix had an equity capital of Rs 1800 crore.

In response to a question from CNBC-TV18 if Clix was looking to put Rs 1000 crore, Bhasin said: “We have very good equity base which we think is terrific. I also think bank also needs additional capital in time because financial companies….banks are capital hungry. Therefore, you need capital over time to continue to grow and growth is what this is all about and that will be the focus in time, not right now but in time certainly there is an essential ingredient that has to go into this.Given our equity base we would end up with a sizeable chunk if the deal goes through.”