Canara Bank has launched Qualified institutional placement (QIP) to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share. The bank's sub-committee of the board, capital planning process, at its meeting held on August 18, 2021 and authorised the opening of the QIP.
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.