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Canara Bank soars on raising Rs 500 crore through preferential basis

02 Jan 2014 Evaluate

Canara Bank is currently trading at Rs. 291.50, up by 6.30 points or 2.21% from its previous closing of Rs. 285.20 on the BSE.

The scrip opened at Rs. 285.20 and has touched a high and low of Rs. 292.20 and Rs. 284.50 respectively. So far 86478 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 550.00 on 14-Jan-2013 and a 52 week low of Rs. 189.90 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 294.50 and Rs. 274.65 respectively. The current market cap of the company is Rs. 13436.47 crore.

The promoters holding in the company stood at 67.72% while Institutions and Non-Institutions held 24.99% and 7.29% respectively.

Canara Bank has raised Rs 500 crore by allotting 1,82,58,837 equity shares on preferential basis to the Government of India, the public sector lender’s principal shareholder. With this preferential allotment, the centre’s shareholding has risen from 67.72% to 69%. The bank will use the funds to strengthen its capital base and fund its general business activities.

The shares had a face value of Rs 10 each with a premium of Rs 273.84 per share, determined in accordance with the Securities and Exchange Board of India’s Issue of Capital Disclosure Requirements norms.

Canara Bank is India’s fifth largest Public Sector bank (PSB) in terms of assets. As on September 30, 2013, it had assets of around Rs 450,200 crore and advances of around Rs 281100 crore. The bank’s strong market position is underpinned by its market share of around 5.0 percent in deposits and 4.8 percent in advances as on September 30, 2013.

Canara Bank Share Price

138.90 -1.20 (-0.86%)
13-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SBI 1063.20
PNB 110.75
Canara Bank 138.90
Bank Of Baroda 275.85
Union Bank Of India 184.70
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