Canara Bank has set a floor price of Rs 103.50 per share for its qualified institutional placement (QIP) to raise up to Rs 2,000 crore. The bank had received shareholders' nod in its annual general meeting, held in August, for raising up to Rs 2,000 crore by way of QIP. The sub-committee of the board -- Capital Planning Process of the bank, at its meeting held on December 7, 2020 authorised the opening of the QIP issue and approved the floor price of Rs 103.50 per equity share.
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.
