Business / Lakshmi Vilas, Indiabulls Housing To Merge In Share-Swap Deal

Private sector lender Lakshmi Vilas Bank will merge operations with housing finance firm Indiabulls Housing Finance in a share-swap deal, companies said in a filing on Friday. The merger will create a large, healthy and diverse asset book, Lakshmi Vilas Bank said. It will also allow the merged company to collectively foray into newer businesses that help increase fee income. It is a win-win deal for both companies.