Indian Bank raises Tier 1 Capital Fund of Rs. 1048 crore

Indian Bank on date has successfully raised Tier 1 Capital Fund through Private Placement of Basel III compliant AT 1 Perpetual Bonds aggregating to Rs.1048 crore (Rupees one thousand forty eight crore only) at a coupon of 8.44% p.a. payable annually.

The issuance/placement of said Bonds has been completed by the Bank through BSE-EBP.

Shares of INDIAN BANK was last trading in BSE at Rs.85.6 as compared to the previous close of Rs. 74.15. The total number of shares traded during the day was 931442 in over 6181 trades.

The stock hit an intraday high of Rs. 88.95 and intraday low of 73.5. The net turnover during the day was Rs. 75642429.

Source : Equity Bulls

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