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Canara Bank raises Rs 2,500 crore through QIP

26 Aug 2021 Evaluate

Canara Bank has raised Rs 2,500 crore through the qualified institutional placement (QIP) route. The QIP was fully subscribed and saw a strong response from foreign as well as from domestic qualified institutional buyers (QIBs). This capital will enable the bank to improve the CET (common equity tier) ratio and in turn, will support further asset growth.

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 960.75
PNB 111.70
Bank Of Baroda 233.70
Canara Bank 118.80
Union Bank Of India 166.00
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