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At the meeting held on May 28, 2021
The Board of Directors of Canara Bank, at its meeting held on May 28, 2021, approved a capital raising plan for the year 2021-22 amounting to Rs 9,000 crore through equity instruments and of debt. The details of the fundraising plan are as follows:
1. Increase the share capital by an amount of up to Rs 2,500 crore (including the premium) through a qualified institutional placement (QIP) during the financial year (AF) 2021-22, subject to market conditions and necessary approvals.
2. To raise capital through Basel III Compliant Level I Bonds to the tune of Rs 4000 crore during FY 2021-22, subject to market conditions and necessary approvals.
3. Raise capital through additional Basel III Level II Compliant Bonds in the amount of Rs 2,500 crore during FY 2021-22, subject to market conditions and necessary approvals.
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(This story was not edited by Business Standard staff and is auto-generated from a syndicated feed.)
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First published: Fri 28 May 2021. 14:21 IST
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