Syndicate Bank has informed that Board of Directors of the Bank in its meeting held on 29th May 2017 approved to raise equity capital up to Rs 3500 Crore inclusive of premium to be decided by way of Qualified Institutional Placement/Rights Issue/Preferential Allotment / or any other mode approved by Reserve Bank of India/Government of India, at an appropriate time, subject to necessary approvals, during the financial year 2017-2018. The Board also approved to raise Basel III Compliant Additional Tier I Bonds up to Rs 1000 Crore and Tier II Bonds up to Rs 1000 Crore, as per eligibility at an appropriate time, subject to necessary approvals, during the financial year 2017-2018. The information is given pursuant to Regulation 30 of SEBI (Listing Obligation and Disclosures Requirements) Regulation, 2015.
The above information is a part of company’s filings submitted to BSE.
