Karur Vysya to raise Rs 300 cr via issue of bonds

MUMBAI: Private-sector lender Karur Vysya Bank today said it will raise up to Rs 300 crore by issuing bonds.

The board of directors have approved to raise Rs 150 crore by issue of unsecured redeemable non-convertible subordinated (Tier II) bonds (Series I), with an option to raise Rs 150 crore additional amount if the issue is oversubscribed, Karur Vysya Bank said in a filing to the Bombay Stock Exchange.

Shares of Karur Vysya Bank were trading at Rs 300.35 on the BSE, down 1.20 per cent from previous close.