Augments capital by Rs 658.96 crore
Karnataka Bank has successfully completed the rights issue of shares in the ratio of 1:2 on record date at a price of Rs 70 per share (including premium of Rs 60 per share). The rights issue which opened on 07 November 2016 closed on 28 November 2016. Overall subscription reached 185.52%. The shares have been allotted on 08 December 2016 and commenced trading with effect from 14 December 2016. With the completion of rights issue, the bank has augmented its capital funds to the extent of Rs 658.96 crore.Powered by Capital Market - Live News
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