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Karnataka Bank gains on raising Rs 659 crore capital via rights issue

16 Dec 2016 Evaluate

Karnataka Bank is currently trading at Rs. 113.85, up by 0.85 points or 0.75% from its previous closing of Rs. 113.00 on the BSE.

The scrip opened at Rs. 113.70 and has touched a high and low of Rs. 115.10 and Rs. 113.70 respectively. So far 124820 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 134.15 on 24-Oct-2016 and a 52 week low of Rs. 69.07 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 115.10 and Rs. 103.60 respectively. The current market cap of the company is Rs. 3220.29 crore.

The institutions and non-institutions held 31.87% and 68.13% stake in the Bank, respectively.

Mangaluru based Karnataka Bank has successfully completed the rights issue of shares in the ratio of one share for every two shares held on the record date at a price of Rs 70 per share including premium of Rs 60 per share. The rights issue which had opened for subscription on November 7, 2016, closed on November 28, 2016. The issue received overwhelming response from the shareholders /investors with an overall subscription reaching 185.52%.

The shares have been allotted on December 8, 2016 and commenced trading on the BSE and National NSE with the effect from December 14, 2016. With the completion of Rights issue, the bank has augmented its capital funds to the extent of Rs 658.96 crore and the capital adequacy ratio has improved further paving the way for further expansion of business in the coming years.

Karnataka Bank is a private sector bank engaged in providing a range of banking and financial services, including retail, corporate banking and para-banking activities in addition to treasury and foreign exchange business. The Bank had 733 branches, 1,297 ATMs and (e-lobbies/Mini e-lobbies) across India, as at June 30, 2016.

Karnataka Bank Share Price

246.60 0.15 (0.06%)
17-Apr-2026 16:59 View Price Chart
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Company Name CMP
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