Corporation Bank has received approval for capital raising plan to the extent of Rs 12,500 crore by way of either issue and allotment of equity shares on preferential basis or by way of Additional tier 1 Bonds or Tier II Bonds or Follow on Public Issue or Rights Issue or Qualified Institutions Placement or issue and allotment of equity shares on preferential basis to Government of India or Debt Issue or in combination of these thereof or any other method as per Basel Ill requirements in one or more tranches with Green Shoe Option.
The Board of Directors of the bank at its meeting held on February 25, 2019 has approved the same.
Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906.
