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Canara Bank to raise Rs 2000 crore through QIP

25 Sep 2020 Evaluate

Canara Bank has decided to raise additional Equity Share Capital amounting up to Rs 2000 crore (including Securities Premium), through Qualified Institutional Placement (QIP) route, by issuing such number of equity shares of face value of Rs 10 each in one or more tranches with a premium to be decided as per applicable guidelines / regulations. The said QIP issue shall be within the overall maximum limit of Board approved capital raising plan (FY 2020-21) of Rs 5000 crore Equity Share Capital (including premium) and is subject to market conditions and necessary approvals.

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.

Peers
Company Name CMP
State Bank Of India 961.80
PNB 112.20
Bank Of Baroda 233.50
Canara Bank 119.05
Union Bank Of India 167.75
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