The bank said it will raise the funds in one or more tranches on a private placement basis.
Karnataka Bank is a scheduled commercial bank. The bank's standalone net profit surged to Rs 454.11 crore in Q3 FY22 from Rs 212.87 crore in Q3 FY21. Total income declined 7% YoY to Rs 5383.62 crore during the period under review.
Shares of Karnataka Bank were trading 1.46% to Rs 57.30 on BSE.