Canara Bank board to raise Rs. 2000 crore through QIP

The Board of directors of Canara Bank at its meeting held today, on 25.09.2020 (Friday), has decided to raise additional Equity Share Capital amounting up to Rs.2000 Crore (including Securities Premium), through Qualified Institutional Placement (QIP) route, by issuing such number of equity shares of face value of Rs.10/- each in one or more tranches with a premium to be decided as per applicable guidelines / regulations. The said QIP issue shall be within the overall maximum limit of Board approved capital raising plan (FY 2020-21) of Rs.5000 Crore Equity Share Capital (including premium) and is subject to market conditions and necessary approvals.

Shares of CANARA BANK was last trading in BSE at Rs.83.25 as compared to the previous close of Rs. 88.15. The total number of shares traded during the day was 705113 in over 6011 trades.

The stock hit an intraday high of Rs. 86.6 and intraday low of 82.55. The net turnover during the day was Rs. 59293290.

Source : Equity Bulls

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