NEW DELHI: Shares of Lakshmi Vilas Bank surged over 7 per cent in Tuesdays trade after ET reported that five financial investors, including Blackstone Group, Bain Capital and TPG Capital Management, have been shortlisted to buy a controlling stake in the lender.Baring Private Equity Asia and home-grown Gajja Capital are the two other contenders left in the penultimate round to acquire the 92-year-old, South-based bank, multiple sources with knowledge of the matter told ET.Following the development, Lakshmi Vilas Bank soars 7 per cent on investor shortlist for controlling stakeThe non-binding offers are in the range of Rs 140 to Rs 160 per share, valuing the private sector lending between Rs 3,592 crore and Rs 4106 crore, sources said.
Offers are at a considerable premium to Mondays closing price of Rs 89.5 a share, ET reported.