Clix Capital ‘disappointed’ at not getting Lakshmi Vilas Bank despite good offer

“Disappointed that we didn’t get the deal despite bringing Lakshmi Vilas Bank (LVB) a good offer,” said Pramod Bhasin, Founder & Chairman of Clix Capital in an interview to CNBC-TV18.

Clix Capital had been in talks with LVB over the last few months for a possible merger.

“Certainly DBS Bank has deep pockets, brings in a lot more equity. They are a great bank. Therefore, I can imagine why RBI feels the amount of equity they can bring in is much larger than what we would have wanted to bring in,” he added.

Bhasin further said, “We would look at other candidates for acquisition.”

Early last month Bhasin had told CNBC-TV18 that the deal with Lakshmi Vilas Bank could take some time. There had been market talk back then that the deal with Clix Capital may not go through.

In that interview, Bhasin had said his firm was checking on the recovery of non-performing assets at LVB, and there were some other negotiations ongoing as well. He said LVB's loan book had not grown as a result of which non-performing assets as a proportion of loan book has been rising.

For entire interview, watch video