Karur Vysya Bank raises Rs 625 crore

In a bid to support its growth in the near future, Karur Vysya Bank (KVB) has raised Rs 625 crore through the Qualified Institutional Placement (QIP).

Spark Capital acted as a Book Running Lead Manager for the issue. Spark Capital in the past has advised 14 funds to pick up between one per cent and five per cent of the shares in KVB aggregating close to 30 per cent.

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.