Canara Bank has decided to raise equity share capital amounting upto Rs 6,000 crore by way of Qualified Institutional Placements (QIP) /Rights Issue/ESPS/ Private Placement/ Preferential allotment /any other approved means during Financial Year (FY) 2019-20. The Board of Directors of the Bank at its meeting held on June 18, 2019 has decided the same.
The board has also decided to raise funds through Additional Tier I Basel III Compliant Perpetual Bonds to the extent of Rs 3000 crore and Basel III Compliant Tier II Bonds to the extent of Rs 3,000 crore during the FY 2019-20.
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.
