Further, out of which as part of tranche 1, the board has approved the issuance of up to 3,34,00,132 equity shares to HDFC Life Insurance Company, Bajaj Allianz Life Insurance Company, Quant Mutual Fund, Bharti AXA Life Insurance Company, Bajaj Allianz General Insurance Company at a price of Rs 239.52 per equity share, amounting to an aggregate of up to Rs 800 crore on a preferential basis.

Karnataka Bank said that the proposed issue will help the bank strengthen its' financial foundation for future growth. The proceeds of this issue will be primarily used to meet the needs of the growing business of the bank, including long-term capital requirements and for general corporate purposes.

Srikrishnan H., MD & CEO of Karnataka Bank, stated, "This capital infusion marks a pivotal moment in our journey. It reflects our commitment to fortify our position in the market and better serve our customers. We are confident that this strategic step aligns with our vision for growth and stability."

Karnataka Bank offer a wide range of customized products and services, including loans, deposits, and international banking solutions.