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Canara Bank to raise Rs 6,000 crore via equity share capital

Canara Bank to raise Rs 6,000 crore via equity share capital

India Blooms News Service | @indiablooms | 19 Jun 2019, 12:20 pm

Mumbai, Jun 19 (UNI) Public sector lender Canara Bank has said that it would raise Equity Share Capital amounting upto Rs 6,000 crore by approved means during current financial year.

The Board of Directors of the bank, in a meeting here on Tuesday, decided to raise the capital by way of Qualified Institutional Placements(QIP), Rights Issue, ESPS, private placement, preferential allotment and any other approved means.

The board also approved proposal to raise funds through Additional Tier I Basel III Compliant Perpetual Bonds to the extent of Rs 3,000 cr and Basel III Compliant Tier II Bonds to the extent of Rs 3,000 crore during the FY 2019-20 subject to market conditions and necessary approvals, the Bank said in a filing with BSE.