OBC to raise Rs 300 crores Tier I Capital

Oriental Bank of Commerce (OBC) has announced that the Bank intends to raise Tier I capital amounting to Rs. 300.00 crores by issuing Innovative Perpetual Debt Instrument on Private Placement basis. The Bank shall furnish further information as soon as the terms of the proposed issue are finalized.

The stock closed the day at Rs.281.55, down by Rs.1.55 or 0.55%. The stock hit an intraday high of Rs.286.95 and low of Rs.279.10.

The total traded quantity was 38269 compared to 2 week average of 149292.

Source : Equity Bulls

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