Karur Vysya Bank to raise up to Rs 500 crore

Karur Vysya Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on June 26, 2009, has decided to place a proposal seeking consent of the shareholders at the ensuing Annual General Meeting for the issue of equity shares by way of Qualified Institutions Placement (QIP) in accordance with the SEBI Guidelines, with the approval of RBI and other Regulatory authorities, up to Rs 500 Cr.

The stock was trading at Rs.284.20, down by Rs.6.80 or 2.34%. The stock hit an intraday high of Rs.301.85 and low of Rs.284.

The total traded quantity was 18488 compared to 2 week average of 5571.

Source : Equity Bulls

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