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Karnataka Bank Ltd informed the BSE on Wednesday that it has fixed February 28 as the record date for purpose of entitlement of offer under the proposed rights issue.
The January-24 board meeting of the bank had decided to issue two shares for every five shares held on rights-basis at Rs 85 a share, including the premium of Rs 75 a share.
To a query by Business Line on when the issue will open and close, Mr P. Jayarama Bhat, Managing Director, said the board will meet on February 18 to decide on this.
The bank informed the BSE on Wednesday that 5,37,69,935 equity shares of face value Rs 10 each are on offer in this issue. The bank informed the stock exchange that 13,44,22,037 equity shares of Rs 10 each are outstanding before to this issue.
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