Insta
Canara Bank Gets Board Approval To Raise Up To Rs 9,000 Crore In FY22 Via Equity And Debt Instruments
Canara Bank (Pic Via Wikipedia)
The board of directors of Canara Bank has approved Rs 9,000 crore in the ongoing financial year by way of equity and debt instruments.
The decision was taken the meeting of the board of directors on Friday (28 May).
"The Board of Directors of the Bank in its meeting held today on 28.05.2021 has approved the capital raising plan of the bank for the year 2021-22 amounting up to Rs 9,000 crore by way of equity and debt instruments," it said in a regulatory filing.
The approved plan includes raising equity share capital amounting up to Rs 2,500 crore, including premium, by way of Qualified Institutional Placement (QIP) during FY22 subject to market conditions and necessary approvals.
It also includes raising capital through additional tier-I Basel-III compliant bonds to the extent of Rs 4,000 crore during the FY 2021-22 subject to market conditions and necessary approvals.
The plan also involves raising capital through Additional Tier II Basel-III compliant bonds to the extent of Rs 2,500 crore during the FY22.
Around 1.12 p.m., shares of the bank on the BSE were trading at Rs 157.40, higher by Rs 3.80 or 2.47 per cent from their previous close.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
