Karur Vysya Bank is planning to raise funds up to Rs 1,200 crore by way of issuance of Basel III compliant unsecured tier 1 and 2 capital instruments on private placement basis/preferential allotment/qualified institutional placement.
The Bank’s board of directors has approved the proposal and seeks approval from shareholders, regulatory/statutory. The bank has proposed to raise funds in single or multiple tranches.
Karur Vysya Bank is among six old generation private sector banks that have been identified by the Reserve Bank of India (RBI) to implement Speed Clearing at Mumbai.
