Karnataka Bank Approves Allotment of Equity Share Capital of ₹ 800 Crores on a Preferential Basis

The committee of directors of the board of Karnataka Bank has approved allotment of 3,34,00,132 equity shares of a face value of ₹10 each to five financial institutions.

The shares were allotted at a price of ₹239.52 per equity share to HDFC Life Insurance Company Ltd., Bajaj Allianz Life Insurance Company Ltd., Quant Mutual Fund, Bharti AXA Life Insurance Company Ltd., and Bajaj Allianz General Insurance Company Ltd., amounting to an aggregate of ₹799.99 crore on a preferential basis.