Corporation Bank has received an approval for raising of capital of the bank to the extent of Rs 1,000 crore in one or more tranches with Green Shoe Option if any. The board of directors at its meeting held on March 08, 2016 has approved for the same.
The bank will raise funds by way of either issue and allotment of equity shares on preferential basis or by way of Additional Tier 1 Bonds or Follow on Public Issue or Rights Issue or Qualified Institutions Placement or Debt Issue or any other method as per Basel III requirements and for determination of issue price at an appropriate time as per extant guidelines of SEBI and with the approval of Reserve Bank of India, Government of India and shareholders of the bank if any.
