Money & Banking

Karur Vysya Bank board approves raising up to Rs 1,200 cr through Basel-III compliant instruments

Our Bureau | Updated on June 26, 2018 Published on June 26, 2018

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Mumbai, June 25

Karus Vysya Bank's board of directors has approved domestic fund-raising up to Rs 1,200 crore by way of issuance of Basel-III compliant unsecured Tier-I/ Tier-I1 capital instruments in single/ multiple tranches on private placement basis/ preferential allotment/ qualified institutional placement.

The Karur (Tamil Nadu) headquartered private sector bank, in a stock exchange notice, said the aforesaid fund raising will be subject to approval of shareholders and regulatory/ statutory approvals, as may be required.

Published on June 26, 2018
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