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.