Canara Bank board approves fundraising plan for Rs 9000 cr for FY22


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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