India Bank raises Rs. 560 crore

India Bank on date has further raised Tier 1 Capital Fund through Private Placement of Basel III compliant AT 1 Perpetual Bonds aggregating to Rs.560 crore (Rupees five hundred sixty 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.95.9 as compared to the previous close of Rs. 85.8. The total number of shares traded during the day was 630702 in over 4702 trades.

The stock hit an intraday high of Rs. 97.75 and intraday low of 85.15. The net turnover during the day was Rs. 58377359.

Source : Equity Bulls

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