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| Exchange Disseminated Time 29/05/2017 18:56:39 | Karur Vysya Bank Ltd has informed BSE that the Board of Directors of the Bank, at their meeting held on May 29, 2017, decided as follows:
1. Issue of equity shares by way of Rights Issue to the eligible shareholders of the bank in the ratio of 1:6 i.e., 1 (one) equity share for every 6 (six) equity shares held on a record date which is to be fixed at a later date, at a price of Rs. 76/- per equity share of nominal value of Rs. 2/- each, at a premium of Rs. 74/- per equity share.
2. In terms of Regulation 55(A) of the SEBI (ICDR) Regulations, 2015, subject to other applicable provisions of these regulations, the Board of Directors have made a reservation to the employees of the Bank along with rights issue at the same price i.e., Rs. 76/- per equity share of nominal value of Rs. 2/- at a premium of Rs. 74/- per equity share subject to the approval of shareholders. |
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