Karnataka Bank to raise Rs 500 crore through QIP issue

Karnataka Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on May 25, 2009, inter alia, has resolved to seek shareholders approval for the issue of equity shares through the mechanism of Qualified Institutional Placement ('QIP') upto Rs 500 crore as per SEBI Guidelines.

The stock was trading at Rs.143.75, up by Rs.0.05 or 0.03%. The stock hit an intraday high of Rs.151 and low of Rs.143.20.

The total traded quantity was 172905 compared to 2 week average of 601359.

Source : Equity Bulls

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