October 23, 2018 / 6:03 AM / 2 months ago

BUZZ-India's Lakshmi Vilas Bank hits over 1-mth high after report says lender shortlists buyers

** Lakshmi Vilas Bank Ltd’s shares rise as much as 6.15 pct to 95 rupees; their highest since Sept. 21

** Private sector lender short-listed five investors to buy a controlling stake in it, including Blackstone Group, Bain Capital and TPG Capital Management, Economic Times reported bit.ly/2EEOgRe on Monday

** Lender received expressions of interest to participate in capital raising programme from high quality investors but hasn’t decided on investors or quantum of investments yet, it said in a stock exchange filing on Tuesday responding to media reports

** In August, the bank was in talks to sell up to 51 pct stake to strategic investors as it aims to ring fence the balance sheet with capital, ET had reported

** Blackstone Group, Bain Capital were not immediately available for comment, while TPG Capital declined to comment

** More than 969,800 shares changed hands, 0.8 times their 30-day moving avg of about 1.2 mln

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