Moneycontrol
    Moneycontrol PRO
    LAMF
    LAMF

    Karur Vysya Bank plans to raise Rs 1,000 cr via QIP

    Private sector Karur Vysya Bank today said it plans to raise up to Rs 1,000 crore from qualified institutional investors to fund its expansion plan.
    August 07, 2013 / 22:37 IST

    Private sector Karur Vysya Bank today said it plans to raise up to Rs 1,000 crore from qualified institutional investors to fund its expansion plan.

    The bank plans to seek shareholders approval for raising up to Rs 1,000 crore by issue of equity shares by way of Qualified Institutions Placement (QIP), Karur Vysya Bank said in a filing on the BSE.

    Also read: IRDA relaxes premium payment mode for policyholders

    Besides, the board has also approved proposal to raise the investment cap for the Foreign Institutional Investors (FII) up to a limit of 40 percent of the paid-up capital of the bank.

    These proposals are subject to regulatory approvals, it said.

    Shares of the bank closed at Rs 337.20 per unit, down 2.87 percent on the BSE.

    Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

    Subscribe to Tech Newsletters

    • On Saturdays

      Find the best of Al News in one place, specially curated for you every weekend.

    • Daily-Weekdays

      Stay on top of the latest tech trends and biggest startup news.

    Advisory Alert:

    It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347