Canara Bank has received an approval to raise additional Tier- I instruments amounting to Rs 1,500 crore through issue of BASEL-III complaint Additional Tier-I Perpetual Bonds by way of Private Placement. The Bond Committee during the course of its meeting held on February 02, 2015, has approved for the same.
The bank received ratings of ‘AA’ from India Ratings & Research & ‘AA (hyb) with Stable Outlook’ from ICRA for the proposed issue of the said bonds.
Recently, foreign institutional investors (FIIs) have increased their holdings in the bank by nearly 39 basis points to 11.21% at the end of the third quarter from 10.82% in the second quarter ended September 30, 2014. Furthermore, domestic institutional investors (DIIs) have also increased their stake in the company to 13.17% from 12.71% as on September 30, 2014.
