Karnataka Bank MD & CEO Srikrishnan H said in a statement: "We are happy to have completed a successful Capital raise through Pref Allotment of Rs. 800 crore to 5 Marquee Institutional Investors. This is a major step in our transformation journey providing us the growth capital that will facilitate all our developmental activities.”
The allotment happened at a price of Rs 239.52 per equity share on a preferential basis. The Bank received 99.79 percent favorable votes from its shareholders for this preferential issue