Skip to main content

MoneyWorks4Me

Indian Bank to take call on raising funds Rs 7,000 crore during Q2 FY20

15 May 2019 Evaluate

Indian Bank will take a call on raising Rs 7,000 crore during the second quarter of the current financial year (FY20). The Bank has already received approval to raise up to Rs 7,000 crore.

In December 2017, the bank's Board accorded approval to raise equity capital up to Rs 7,000 crore in one or more tranches in the current or subsequent financial years based on 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
View more..