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Karur Vysya Bank Ltd raises Rs. 487 crore through issue of BASEL III compliant Tier 2 Bonds

Posted On: 2019-03-13 11:59:43

The Capital Raising Committee of the Board of Karur Vysya Bank Ltd in its meeting held today (i.e. 12th March 2019), has allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible Tier II Bonds in the nature of Debenture of R.s 1,00,000 each aggregating to Rs. 487.00 Crore (Rupees Four Hundred and Eighty Seven Crore only), on private placement basis.

The coupon / interest offered is 11.95% p.a. and maturity date is June 12, 2019.

The Instrument will be listed on NSE Limited.

The instrument has been assigned "IND A+ / Stable" by India Ratings & Research Pvt. Ltd. and "[ICRA] A(hyb) Stable" by ICRA Ltd.

Shares of KARUR VYSYA BANK LTD. was last trading in BSE at Rs.73.4 as compared to the previous close of Rs. 69.9. The total number of shares traded during the day was 88034 in over 580 trades.

The stock hit an intraday high of Rs. 73.95 and intraday low of 70.05. The net turnover during the day was Rs. 6371590.


Source: Equity Bulls

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