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Karur Vysya Bank plans rights issue

Karur Vysya Bank Ltd. plans to issue equity shares on a rights basis.

The bank said May 29 that it will issue 1 share for every 6 shares held at 76 Indian rupees per share. The record date will be determined later.

The proposed rights issue is subject to necessary approvals.

As of May 29, US$1 was equivalent to 64.54 Indian rupees.