K'taka Bank to issue 63.73 lakh shares to IFC

The board of directors of Karnataka Bank, at its meeting today, approved a proposal to issue 63,73,000 equity shares of Rs 10 each to International Finance Corporation (IFC), Washington on preferential basis.

The pricing of shares, however, was not mentioned in an official release issued by the bank to the BSE today.

The board has also resolved to issue upper tier-2 bonds, on private placement basis, to IFC for $10 million.