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Karnataka Bank to raise Rs 100 cr equity from ICICI Lombard

By Economic Times - 10 months ago
Karnataka Bank has decided to allot Rs 100 crore worth of preferential shares to ICICI Lombard General Insurance as part of its plans to raise Rs 700 crore in fresh equity. The allotment is subject to regulatory and shareholder approval and will be raised through other permitted means. The bank raised Rs 800 crore through a preferential issue of shares in October last year.

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