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The right issue of Karnataka Bank for one share for every two shares at Rs 70 apeice has closed with a subscription of over 185 percent.
P Jayarama Bhat, Bank MD & CEO has said in a regulatory filing that “With the completion of rights issue, bank has augmented its capital funds to the extent of Rs 658.96 crore and the capital adequacy ratio has improved further paving the way for further expansion of business in the coming years.”
The Karataka bank has said that the issue has received overwhelming response from shareholders and investors with an overall subscription reaching 185.52 percent.
It added that the shares have started trading on BSE and NSE from December 14.
