Karur Vysya Bank to raise upto Rs 300 crores

Karur Vysya Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on August 27, 2009, has decided to raise funds by issue of Unsecured Redeemable Non-Convertible Subordinated (Tier II) Bonds (Series I) in the nature of Promissory Notes / Debentures for cash up to Rs. 150 Cr. with green shoe option up to Rs. 150 cr.

The stock closed the day at Rs.300, up by Rs.0.95 or 0.32%. The stock hit an intraday high of Rs.301 and low of Rs.296.55.

The total traded quantity was 3505 compared to 2 week average of 10066.

Source : Equity Bulls

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