Karnataka Bank to raise Rs. 500 crores through QIP

The Board of Directors of Karnataka Bank Ltd at its meeting held on May 15, 2013, has resolved the proposal to seek shareholders approval for raising capital by way of Qualified Institutions Placement (QIP) for an amount not exceeding Rs. 500 Crores.

Shares of Karnataka Bank Ltd was last trading in BSE at Rs.157.85, down by Rs.2.10 or 1.31%. The stock hit an intraday high of Rs.162.45 and low of Rs.156.70.

The total traded quantity was 7.68 lakhs compared to 2 week average of 10.17 lakhs.

Source : Equity Bulls

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