Dhanlaxmi Bank to raise up to ₹150 Crore via tier-II bonds

20 Mar 2025 , 12:21 PM

Dhanlaxmi Bank announced that the company’s board of directors has approved the issuance of unsecured non-convertible debentures in the form of Basel III compliant tier-II bonds. The value of these bonds shall be up to ₹150 Crore.

The face value of the bond is ₹1 Crore each. The bonds will be issued on a private placement basis and shall have a face value of ₹1 each. These bonds shall have a tenure of 10 years.

The company said that the board also approved the general information document, key information document, and term sheet for the proposed issue.

The bank reported a net profit of ₹19.90 Crore in the quarter ended December 2024, registering a growth of 563.33% on a year-on-year basis. In the previous corresponding quarter, the company posted a net profit of ₹3 Crore. 

The private lender’s Net Interest Income (NII) was up by 12.5% at ₹128.30 Crore, against ₹114 Crore in the previous corresponding quarter. It reported Gross Non-Performing Assets (GNPAs) at 3.53% in the quarter ended December 2024 as compared to 3.82% in the previous quarter. Net NPA (NNPA) stood at 0.86% as compared to 1.12% in the previous quarter.

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