Canara Bank board approves capital raising plan for FY22

The Board of Directors of Canara Bank in its meeting held today on 28.05.2021 has approved the Capital Raising Plan of the Bank for the Year 2021-22 amounting up to Rs 9000 Crore by way of Equity and Debt Instruments. Further, out of the above Capital Raising Plan, the Board of Directors of the Bank has approved the following:

- To Raise Equity Share Capital amounting up to Rs 2500 Crore (including premium) by way of Qualified Institutional Placement (QIP) during the Financial Year (FY) 2021-22 subject to market conditions and necessary approvals.

- To Raise Capital through Additional Tier I Basel III Compliant Bonds to the extent of Rs 4000 Crore during the FY 2021-22 subject to market conditions and necessary approvals.

- To Raise Capital through Additional Tier II Basel III Compliant Bonds to the extent of Rs 2500 Crore during the FY 2021-22 subject to market conditions and necessary approvals.

Shares of CANARA BANK was last trading in BSE at Rs.161.85 as compared to the previous close of Rs. 153.6. The total number of shares traded during the day was 2223204 in over 13091 trades.

The stock hit an intraday high of Rs. 162.95 and intraday low of 154.85. The net turnover during the day was Rs. 353845943.

Source : Equity Bulls

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