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Merger deal b/w Lakshmi Vilas Bank and Indiabulls Housing Finance Ltd finalized

On Friday, Lakshmi Vilas Bank accepted the deal of merger with mortgage lender Indiabulls Housing Finance Ltd. As per the deal, Lakshmi Vilas shareholders will get 14 shares of Indiabulls Housing for every 100 bank stakes they hold. Telling about the benefit of this merger the CEO and MD of Lakshmi Vilas Bank said that this will give a boost to the asset book and the capital. "We'll become a profitable franchise."