Moneycontrol Bureau
Private sector lender Karur Vysya Bank climbed nearly 3 percent intraday Wednesday after the bank opened its qualified institutional placement (QIP) issue for subscription on Tuesday.
"...subsequent to the approval accorded by the board of directors of the bank on August 06, 2013 and the approval of the shareholders of the bank by way a special resolution on October 07, 2013 for raising capital through QIP, QIP committee of the bank, on Tuesday, passed resolutions authorising the opening of the QIP on August 19, 2014," said the bank in its filing.
In relation to the QIP, the bank has filed the preliminary placement document with stock exchange on August 19.
The floor price for this QIP is fixed at Rs 461.70 per equity share, it added.
Shareholders, on October 8, 2013, had approved the issue of equity shares under QIP to qualified institutional buyers for an aggregate amount not exceeding Rs 1,000 crore.
At 13:22 hours IST, the stock was quoting at Rs 477.85, up Rs 8.15, or 1.74 percent on the BSE.
Posted by Sunil Shankar Matkar
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