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Karnataka Bank has mobilised ₹658.96 crore capital following a rights issue of shares.
The bank had come out with a rights issue in the ratio of one share for every two shares held on the record date at ₹70 per share, including a premium of ₹60 per share.
The rights issue had opened for subscription on November 7 and closed on November 28.
A press release by the bank said that the issue received overwhelming response from shareholders and investors with the overall subscription level reaching 185.52 per cent.
The shares were allotted on December 8 and trading on the BSE and the National Stock Exchange commenced on December 14, the release said.
Quoting P Jayarama Bhat, Managing Director and Chief Executive Officer of the bank, it said that the augmentation of capital will pave the way for further expansion of business in the coming years.
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