Karnataka Bank to raise funds upto Rs.150 Crores

Karnataka Bank Ltd has announced that the Board of Directors of the Bank at its meeting held on March 26, 2007, has decided to raise fund by issue Unsecured Redeemable Non-Convertible Subordinated (Tier-II) Bonds (Series I) in the nature of Promissory Notes / Debentures for cash upto Rs 150 crore.

Shares of the company were trading down Rs.2.40 or 1.42% at Rs.167. The total traded quantity was 2980 compared to its 2 week average of 86641. The stock had an intraday high of Rs.169.95 and low of Rs.166.

Source : Equity Bulls

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