Karur Vysya Bank said that the QIP committee of the board of directors of the bank has approved the issue and allotment of 1,34,12,015 equity shares.

It is to eligible to qualified institutional buyers at the issue price of Rs 466 a equity share, aggregating to approximately Rs 6,250 million under the SEBI Regulations and Section 42 of the Companies Act, 2013.

Shares of the company declined Rs 6.75, or 1.42%, to trade at Rs 468.25. The total volume of shares traded was 3,343 at the BSE (12.36 p.m., Tuesday).