Karur Vysya Bank to raise up to Rs 1,200 cr via securities
Private sector lender Karur Vysya Bank today said it plans to raise up to Rs 1,200 crore through a mix of equity and debt.
In a regulatory filing, the bank said its board has approved the proposal for domestic fund raising by way of issuance of Basel III complaint unsecured tier 1 and 2 capital instruments on "private placement basis/preferential allotment/qualified institutional placement up to Rs 1,200 crore".
The proposal involves raising the fund in single or multiple tranches.
"...fund raising by way of Basel III complaint unsecured tier 1 and 2 capital instruments issuance shall be subject to approval of shareholders, regulatory/statutory approvals, as may be required," the bank added.
The bank's shares closed at Rs 104.85 a piece on BSE, down 0.94 per cent.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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