Canara Bank to raise Rs3,000cr capital via bonds

The board of the bank has decided to raise additional Tier-I capital through Basel-III compliant additional Tier-I perpetual bonds in rupee terms.

Dec 20, 2018 03:12 IST India Infoline News Service

Canara Bank in its filing to the exchanges informed that its board has decided to raise Rs3,000cr capital via bonds. The announcement was made by the bank after market hours on Wednesday.

"The board of the bank has decided to raise additional Tier-I capital through Basel-III compliant additional Tier-I perpetual bonds in rupee terms for an amount not exceeding Rs3,000cr in single tranche or in multiple tranches," the bank said in a statement.

The proposal is subject to necessary approval, Canara bank added.

Canara Bank's share price ended at Rs274.50 on Wednesday, up by Rs5.45 or 2.03%, from its previous close of Rs269.05 on the BSE. 

The scrip opened at Rs271 and touched a high and low of Rs277.25 and Rs271, respectively. A total of, 66,99,558 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs20,131.24cr.

Related Story