Karur Vysya Bank Ltd Board approves Rights Issue of equity shares at Rs. 76

The Board of Directors of Karur Vysya Bank Ltd, at their meeting held on May 29, 2017, have decided the issue of equity shares by way of Rights Issue to the eligible shareholders of the bank in the ratio of 1:6 i.e., 1 (one) equity share for every 6 (six) equity shares held on a record date which is to be fixed at a later date, at a price of Rs. 76/- per equity share of nominal value of Rs. 2/- each, at a premium of Rs. 74/- per equity share.

In terms of Regulation 55(A) of the SEBI (ICDR) Regulations, 2015, subject to other applicable provisions of these regulations, the Board of Directors have made a reservation to the employees of the Bank along with rights issue at the same price i.e., Rs. 76/- per equity share of nominal value of Rs. 2/- at a premium of Rs. 74/- per equity share subject to the approval of shareholders.

Shares of KARUR VYSYA BANK LTD. was last trading in BSE at Rs.117.5 as compared to the previous close of Rs. 117.8. The total number of shares traded during the day was 66750 in over 770 trades.

The stock hit an intraday high of Rs. 119.4 and intraday low of 117. The net turnover during the day was Rs. 7909653.

Source : Equity Bulls

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