Canara Bank allots 19,32,36,714 shares at Rs. 103.50 to QIBs

The Sub Committee of the Board - Capital Planning Process of the Board of Directors of Canara Bank has, at its meeting held today, i.e., December 11, 2020, approved the allotment of 19,32,36,714 Equity Shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs. 103.50 per Equity Share, aggregating up to Rs. 2000 Crore (Rupees Two Thousand Crores only) under the SEBI ICDR Regulations.

The QIP opened on December 7, 2020 and closed on December 10, 2020 respectively.

Pursuant to the allotment of Equity Shares in the QIP, the paid - up equity share capital of the Bank stands increased from Rs. 1453.50 Crores to Rs. 1646.74 Crores comprising of 1,64,67,38,220 equity shares of face value of Rs. 10 each.

Shares of CANARA BANK was last trading in BSE at Rs.122.5 as compared to the previous close of Rs. 128.1. The total number of shares traded during the day was 1784173 in over 9567 trades.

The stock hit an intraday high of Rs. 125.4 and intraday low of 120.3. The net turnover during the day was Rs. 219227335.

Source : Equity Bulls

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