Karnataka Bank Ltd approves 1:2 rights issue at Rs. 70

At the meeting of the Board of Directors of Karnataka Bank Ltd held on August 05, 2016 it has been decided to issue equity shares of the Bank on RIGHTS basis in the ratio of 1:2 i.e. one share for every two shares held on a record date to be fixed at a later date at a price of Rs.70 per share including the premium of Rs.60 per share, subject to necessary approvals.

Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.143.25 as compared to the previous close of Rs. 149.7. The total number of shares traded during the day was 812788 in over 6467 trades.

The stock hit an intraday high of Rs. 154.3 and intraday low of 141.85. The net turnover during the day was Rs. 120269116.

Source : Equity Bulls

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