Canara Bank gains on plan to raise up to Rs 3,500 crore through QIP route

27 Dec 2017 Evaluate

Canara Bank is currently trading at Rs. 377.40, up by 2.80 points or 0.75% from its previous closing of Rs. 374.60 on the BSE.

The scrip opened at Rs. 379.90 and has touched a high and low of Rs. 384.00 and Rs. 372.50 respectively. So far 40842 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 463.40 on 26-Oct-2017 and a 52 week low of Rs. 250.26 on 02-Jan-2017.

Last one week high and low of the scrip stood at Rs. 384.00 and Rs. 363.75 respectively. The current market cap of the company is Rs. 22634.31 crore.

The promoters holding in the company stood at 66.30%, while institutions and non-institutions held 27.42% and 6.28% respectively.

Canara Bank has received an approval to raise up to Rs 3,500 crore capital through a Qualified Institutions Placement (QIP) route.

The board of bank at its meeting held on December 26, 2017 has decided to raise additional equity share capital amounting up to Rs 90 crore through qualified institutional placement (QIP) route, by issuing up to 9 crore equity shares of a face value of Rs 10 each with a premium to be decided as per the applicable guidelines/regulations for an aggregate amount not exceeding Rs 3,500 crore inclusive of such premium.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.

Canara Bank Share Price

581.90 18.00 (3.19%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
SBI 752.60
Bank Of Baroda 264.20
PNB 124.35
Canara Bank 581.90
Union Bank Of India 153.45
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