Indian Bank has informed that the Securities and Exchange Board of India (SEBI) has pursuant to its letter dated November 20, 2017 permitted the Bank to raise capital by way of issue of equity shares pursuant to a Qualified Institutional Placement subject to the receipt of the approval from Government of India (QIP); and achieve minimum public shareholding as required under Rule 19A of Securities Contracts Regulation (Rules), 1957 pursuant to the QIP. SEBI has also, pursuant to the Letter, exempted the Bank from the applicability of Regulation 82(c) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009.
The above information is a part of company’s filings submitted to BSE.
