The Committee of Directors of Karnataka Bank has sanctioned the allotment of shares through Qualified Institutional Placement (QIP) at ₹227.00 per equity share (including a premium of ₹217.00 per share), totaling up to ₹600 crores. The proceeds from the issuance will support the bank’s expanding business needs, as stated in a bank release. The QIP, opening on March 21 and closing on March 27, aims to bolster the bank’s financial capabilities.
Karnataka Bank Approves ₹600 Crore Equity Share Allotment Under QIP
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