Karnataka Bank trades higher on raising Rs 300 crore via bonds
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Karnataka Bank is currently trading at Rs. 56.35, up by 0.65 points or 1.17% from its previous closing of Rs. 55.70 on the BSE.
The scrip opened at Rs. 55.70 and has touched a high and low of Rs. 57.35 and Rs. 55.70 respectively. So far 161278 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 81.80 on 11-Nov-2021 and a 52 week low of Rs. 51.55 on 23-Aug-2021.
Last one week high and low of the scrip stood at Rs. 58.45 and Rs. 55.50 respectively. The current market cap of the company is Rs. 1756.52 crore.
The Institutions holding in the company stood at 16.79%, while Non-Institutions held 83.21%.
Karnataka Bank has raised Rs 300 crore and allotted unsecured, subordinated, redeemable non-convertible, fully paid-up Basel III Compliant Tier 2 bonds in the nature of Debentures of face value of Rs 10 crore each on private placement basis. The Committee of Directors of Board of the bank has approved and allotted the same on March 30, 2022.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.
