Oriental Bank of Commerce to raise Tier 1 Capital

Oriental Bank of Commerce intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of Rs.10,00,000/- each at par aggregating to Rs.500 crore with an option to retain oversubscription of upto Rs.500 crore. The proposed Bonds Issue has been rated as 'A (Hyb.)' with Negative Outlook by ICRA and 'A' with Negative Outlook by CARE.

Shares of ORIENTAL BANK OF COMMERCE was last trading in BSE at Rs.119.6 as compared to the previous close of Rs. 119.95. The total number of shares traded during the day was 308677 in over 1570 trades.

The stock hit an intraday high of Rs. 122.7 and intraday low of 118.5. The net turnover during the day was Rs. 37036051.

Source : Equity Bulls

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