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Indian Bank to raise up to Rs 7,000 crore

20 Dec 2017 Evaluate

Indian Bank has received an approval to raise up to Rs 7,000 crore through various means, including a follow on public offer (FPO), in the current fiscal and the following years.

The board of director at its meeting held on December 19, 2017 has accorded approval to raise equity capital in one or more tranches in the current or subsequent financial years based on the requirement through FPO/ private placement/ QIP/ rights issue/preferential issue/institutional placement programme.

Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.


Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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