Karur Vysya Bank board approves fund raising of Rs. 1200 crore

The Board of Directors of Karur Vysya Bank Ltd, at their meeting held today, has approved the proposal for domestic fund raising by way of issuance of Basel III compliant unsecured Tier I / Tier I1 capital instruments in single/multiple tranches on private placement basis / preferential allotment / Qualified Institutional Placement upto an amount of Rs. 1,200 Crore.

Further the above fund raising by way of Basel III compliant unsecured Tier I / Tier II capital instruments issuance shall be subject to approval of Shareholders, regulatory / statutory approvals, as may be required.

Shares of KARUR VYSYA BANK LTD. was last trading in BSE at Rs.105 as compared to the previous close of Rs. 105.85. The total number of shares traded during the day was 45345 in over 449 trades.

The stock hit an intraday high of Rs. 106.95 and intraday low of 104.15. The net turnover during the day was Rs. 4764836.

Source : Equity Bulls

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