Karur Vysya Bank (KVB), a private sector lender is likely to raise up to Rs 1,000 crore from qualified institutional investors in order to fund its expansion plan. It is looking for shareholders’ approval for raising funds by issue of equity shares by way of Qualified Institutions Placement (QIP).
The company has bagged board’s approval for proposal to raise the investment cap for the Foreign Institutional Investors (FII) up to a limit of 40% of the paid-up capital of the bank.