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Indian Bank raises Rs 560 crore through bonds

15 Dec 2020 Evaluate

Indian Bank has further raised tier 1 capital fund through private placement of Basel III compliant AT 1 (additional tier 1) perpetual bonds aggregating to Rs 560 crore. The coupon on the bonds was 8.44 percent per annum payable annually. The issuance/placement of said bonds has been completed by the bank through BSE-EBP (bond platform).

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 952.80
PNB 114.30
Bank Of Baroda 234.55
Canara Bank 119.00
Union Bank Of India 173.00
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