Business Standard

Karnataka Bank raises Rs 600 cr through qualified institutional placement

The institutions which bought shares in QIP include HSBC Mutual Fund, Morgan Stanley Asia Singapore PTE, HSBC Global Investment Funds, SBI Life Insurance Company, Franklin India Smaller Companies Fund

Divestment, privatisation, stake sale, disinvestment

Shares of Karnataka Bank settled at Rs 225.10 apiece, down 1.53 per cent over the previous close on the BSE.

Press Trust of India New Delhi

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Karnataka Bank on Thursday said it has raised around Rs 600 crore through qualified institutional placement by issuing shares to institutional investors.
The qualified institutional placement (QIP) opened on March 21 and closed on March 27.
"...The Committee of Directors at its meeting held today, approved the issue and allotment of 2,64,31,718 equity shares to 25 eligible qualified institutional buyers at the issue price of Rs 227 per equity share...aggregating to Rs 599.99 crore," the bank said in a regulatory filing.
The institutions which bought shares in the QIP include HSBC Mutual Fund, Morgan Stanley Asia Singapore PTE, HSBC Global Investment Funds, SBI Life Insurance Company, Franklin India Smaller Companies Fund and Max Life Insurance Company.
Shares of Karnataka Bank settled at Rs 225.10 apiece, down 1.53 per cent over the previous close on the BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mar 28 2024 | 7:49 PM IST

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