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  Business   Companies  13 Mar 2019  Karur Vysya Bank raises Rs 487 cr

Karur Vysya Bank raises Rs 487 cr

PTI
Published : Mar 13, 2019, 3:33 pm IST
Updated : Mar 13, 2019, 3:33 pm IST

The capital was raised on private placement basis, the bank said in a regulatory filing.

The Capital Raising Committee of the board in its meeting on March 12 allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible tier II bonds in the nature of debenture of Rs 1,00,000 each aggregating to Rs 487 crore, Karur Vysya Bank said in a regulatory filing. (Photo: File | PTI)
 The Capital Raising Committee of the board in its meeting on March 12 allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible tier II bonds in the nature of debenture of Rs 1,00,000 each aggregating to Rs 487 crore, Karur Vysya Bank said in a regulatory filing. (Photo: File | PTI)

New Delhi: Karur Vysya Bank on Wednesday said it has raised Rs 487 crore through Basel III compliant bonds to fund its growth plans.

The Capital Raising Committee of the board in its meeting on March 12 allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible tier II bonds in the nature of debenture of Rs 1,00,000 each aggregating to Rs 487 crore, the bank said in a regulatory filing. The capital was raised on private placement basis, it said. The instrument will be listed on NSE.

 

Basel III is an international regulatory framework with a set of reforms to improve the regulation, supervision and risk management within the banking sector. To comply with global Basel-III capital regulations, banks need to improve and strengthen their capital planning process.

Tags: karur vysya bank, regulatory filing, basel iii compliant bonds
Location: India, Delhi, New Delhi