Karur Vyasa Bank Plans To Raise Rs 760 Crore Via Rights Issue

Karur Vysya Bank, a private sector bank, on Monday’s after-market hours, revealed that it is planning to raise around Rs 760 crore through a rights issue, in order to fund its future growth.

The company in its filing to the exchanges said that the board of directors met on Monday and decided to issue equity shares via rights issue to its eligible shareholders in the ratio of one equity share for every six (1:6) held on a record date.

The issue price has been fixed at Rs 76 per equity share, with a premium of Rs 74 per equity share.

Karur Vyasa Bank during Tuesday’s session is trading on a flat note. The Stock is down by Rs 0.2 per share or 0.2% at Rs 17 per share on the NSE at 1040 hours.

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