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Karur Vysya Bank to issue 2:5 bonus shares, rights issues in line
Date: 08-09-2010The board of directors of Karur Vysya Bank has decided to issue two bonus shares for every five shares held and equity shares on rights basis in the same ratio (2:5) on the post-bonus capital. The board has proposed the rights at a premium of Rs 140 a share. It is to be priced at Rs 150 (face value of Rs 10 plus Rs 140 towards share premium).
The bank has also decided to increase the FII investment from 24 per cent to 35 per cent, albeit subject to necessary approval.The bank's capital now stands at Rs 54 crore. After the issue of bonus and rights, it would touch Rs 106 crore. crackcrack