Canara Bank to raise Rs. 1000 crore through issue of Tier - II Bonds (Series - II)

As per the powers delegated by the Board of Canara Bank, the Bond Committee has decided to raise additional capital of Rs. 1000 Crore through issue of BASEL-III complaint Tier-II Bonds (Series-II).

The Bank has received reaffirmation of rating "AAA / Stable" (pronounced 'CRISIL Triple A rating with Stable Outlook') from CRISIL Limited & confirmation of rating '[ICRA] AAA (hyb)' (Pronounced ICRA Triple A Hybrid with Stable Outlook) from ICRA Limited for the proposed issue of the said Bonds.

Accordingly, the Bank is taking the necessary steps in this regard.

Shares of CANARA BANK was last trading in BSE at Rs.239.35 as compared to the previous close of Rs. 246.15. The total number of shares traded during the day was 168936 in over 3667 trades.

The stock hit an intraday high of Rs. 246.7 and intraday low of 238.55. The net turnover during the day was Rs. 40829551.

Source : Equity Bulls

Keywords