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    Canara Bank to raise up to Rs 2,000 crore equity capital

    Synopsis

    The bank's board at its meeting held on Friday decided to raise an "additional equity share capital amounting up to Rs 2,000 crore, including securities premium, through the QIP route, it added.

    canara bank
    In late afternoon trade, shares of Canara Bank gained nearly five per cent to Rs 87.10 on BSE.
    NEW DELHI: Canara Bank on Friday said it will raise an additional equity capital up to Rs 2,000 crore through Qualified Institutional Placement (QIP). The QIP issue shall be within the overall maximum limit of board-approved capital raising plan for 2020-21 of Rs 5,000 crore equity capital and is subject to market conditions and necessary approvals, according to a regulatory filing.

    The bank's board at its meeting held on Friday decided to raise an "additional equity share capital amounting up to Rs 2,000 crore, including securities premium, through the QIP route, it added.

    As per the filing, the number of equity shares of the face value of Rs 10 each in one or more tranches with a premium will be decided as per applicable guidelines/ regulations.

    In late afternoon trade, shares of Canara Bank gained nearly five per cent to Rs 87.10 on BSE.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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