KARURVYSYA

Karur Vysya Bank on July 24 announced a bonus issue of shares in the ratio of 1:5 for its shareholders. This marks the first bonus issue announced by the private lender in nearly seven ***** shareholders would receive one bonus share for every five shares of the company they own, as on record date. "Issuance of Bonus equity shares in the proportion of 1 :5 i.e. 1 (one) equity share of face value Rs 2/- each for every 5 (five) fully paid-up equity share of Rs 2/- each held by the members of the Bank as on the Record Date, subject to the approval of the members of the Bank at the ensuing AGM and other statutory and regulatory approvals, if any," the private lender said in its exchange filing. Bank has set August 26 as the record date to determine the eligibility of the shareholders set to receive the bonus issue. This means that bonus shares will be handed over to those shareholders who own shares of the company as on August 26.