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Karur Vysya Bank Ltd (KVB) said that the QIP committee of the board of directors had on Thursday (August 21) announced the closure of Qualified Institutional Placement (QIP) issue for raising Rs 1,000 crore, two days after the issue was opened.
The issue price was fixed at Rs 466 per share (including a premium of Rs 456 per share) for the shares to be allotted to eligible Qualified Institutional Buyers, the bank said in its filing with the stock exchanges.
The shareholders of the bank had approved by way a special resolution dated October 7, 2013 raising of capital through QIP to QIBs for an aggregate amount of Rs 1,000 crore.
Shares of KVB were trading at Rs 473, down by 70 paise, on the BSE.
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