Karur Vysya Bank announced that in respect of the QIP, the QIP committee of the board of directors of the bank has declared the closure of the QIP on Aug. 21, 2014.

It also determined and approved the issue price of Rs 466 a share of Rs 10 each for the equity shares to be allotted to eligible qualified institutional buyers in the QIP.

The committee also approved and adopted the placement document dated Aug. 21, 2014, in connection with the QIP.

Shares of the bank gained Rs 2.2, or 0.46%, to trade at Rs 475.90. The total volume of shares traded was 483 at the BSE (10.46 a.m., Friday).