Karnataka Bank Ltd to issue Non-Covertible lower Tier II subordinated bonds for Rs. 800 crore

The Board of Directors of Karnataka Bank Ltd at their meeting held today approved the proposal for augmenting the capital funds of the Bank through issue of Non-Convertible lower Tier II subordinated Bonds in accordance with the RBI's New Capital Adequacy Framework Guidelines to the tune of Rs.800 crore in one or more tranches under private placement basis.

Shares of KARNATAKA BANK LTD. was last trading in BSE at Rs.116.1 as compared to the previous close of Rs. 115.8. The total number of shares traded during the day was 119342 in over 979 trades.

The stock hit an intraday high of Rs. 116.8 and intraday low of 114.2. The net turnover during the day was Rs. 13784591.

Source : Equity Bulls

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