<article>Catholic Syrian Bank has sought a $202-million valuation as it looks to sell 51 per cent stake, while Lakshmi Vilas Bank plans to raise $171 million through a QIP.</article>

Catholic Syrian Bank has sought a $202-million valuation as it looks to sell 51 per cent stake, while Lakshmi Vilas Bank plans to raise $171 million through a QIP.
<h3>Catholic Syrian Bank seeks $202m valuation for stake sale</h3>
Private sector lender <a style="color: #000080;" href="http://dealstreetasia.com/tag/catholic-syrian-bank" target="_blank" rel="noopener noreferrer">Catholic Syrian Bank</a> has agreed to sell 51 per cent stake to Canada’s <a style="color: #000080;" href="http://dealstreetasia.com/tag/fairfax" target="_blank" rel="noopener noreferrer">Fairfax Financial Holdings Ltd</a> at Rs 160 per share, said <a style="color: #000080;" href="http://economictimes.indiatimes.com/markets/stocks/news/catholic-syrian-bank-valued-at-rs-1300-crore-for-fairfax-deal/articleshow/59099892.cms" target="_blank" rel="noopener noreferrer">a report</a> in The Economic Times quoting sources.
The deal would value the bank at around Rs 1,300 crore. According to the sources cited in the report, the board is also demanding an additional premium of Rs 10-15 per share but this will be mutually decided between the two parties.
It was recently reported that the Reserve Bank of India, which had given an in-principle nod approving a majority stake sale in the bank to Fairfax Financial Holdings in December last year, had asked the bank to resolve valuation issues with the acquirer.
CSB was earlier seeking a valuation Rs 1,000 crore. However, its improved performance had raised its valuation expectations.
<h3>Lakshmi Vilas Bank plans to raise $171m via QIP</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/lakshmi-vilas" target="_blank" rel="noopener noreferrer">Lakshmi Vilas Bank</a> plans to raise Rs 1,000-1,100 crore ($155 million-$171 million) through a share sale to institutional investors, as per <a style="color: #000080;" href="http://economictimes.indiatimes.com/markets/stocks/news/lakshmi-vilas-bank-to-raise-rs-1000-1100-crore/articleshow/59103049.cms" target="_blank" rel="noopener noreferrer">a report</a> in The Economic Times citing sources.
On Tuesday, the Chennai-based private sector bank got board approval to sell 50 million shares to investors through a qualified institutional placement. The bank is in talks with Credit Suisse, JP Morgan, Centrum Capital and SBI Capital Markets to manage the issue.
The bank plans to use the funds for its expansion plans including inorganic growth opportunities into states and geographies where it does not have a presence currently.
The QIP will be launched soon after the company&#8217;s annual general meeting due on July 18, sources said.
“The process has started. There is a lot of appetite from large institutional investors and long-only funds to invest in India&#8217;s banking and financial services sector,&#8221; said one of sources.
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<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-rbi-catholic-syrian-bank-valuation-fairfax-73808/" target="_blank" rel="noopener noreferrer">India: RBI asks Catholic Syrian Bank to iron out valuation issues with Fairfax</a>

Catholic Syrian Bank has sought $202m valuation for its stake sale, while Lakshmi Vilas Bank plans to raise $171m through QIP issue.

India Digest: Catholic Syrian Bank's $202m valuation; Lakshmi Vilas Bank's QIP

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