Karur Vysya to Rise Up To Rs 1,200cr through Securities
On Tuesday, the Karur Vysya Bank has announced that its Board has approved a proposal of raising Rs1,200cr through domestic funding by issuing Basel-III-compliant, unsecured, tier-I/tier-II capital instruments in single/multiple tranches on a private placement basis/ preferential allotment/QIP.
It declared its decision to issue bonus shares in the ratio of 1:10, i.e., one equity share of Rs2 each for every ten fully paid-up equity shares held. This was, however, subject to approval from the bank’s shareholders.
Karur Vysya Bank’s share price is currently at Rs104.25, down Rs0.6, or 0.57%, from its previous close of Rs104.85 on the BSE.
Today, the scrip opened at Rs107.80 and has touched a high and low of Rs107.80 and Rs103.65, respectively. So far 11,95,441 shares have been traded on the counter. The current market cap of the company is Rs7,618.81cr.