Karnataka Bank raises fund of up to INR 800 crores from institutional investors

  • Deal
  • November 3, 2023

JSA advised Karnataka Bank in its fund raise of up to INR 800 crores by way of a preferential issue from five institutional investors being HDFC Life Insurance, Quant Mutual Fund, Bajaj Allianz General Insurance, Bajaj Allianz Life Insurance and Bharti Axa Life Insurance.

Karnataka Bank Limited, is a leading ‘A’ Class Scheduled Commercial Bank in India, and was incorporated on February 18th, 1924 at Mangaluru. The bank took shape in the aftermath of patriotic zeal that engulfed the nation during the freedom movement of 20th Century India. Over the years the Bank grew with the merger of Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd. and Bank of Karnataka. With over 9 decades of experience the Bank now has a national presence with a network of 903 branches spread across 22 states and 2 Union Territories and is a leading financial service institution in India.

Deal Value: INR 800 crores

Our Transaction Team Lead Partner – Anand Lakra, Senior Associate – Ami Shah, and Associate – Dhruval Sheth & Diya Dave.