ALSO READPSBs gain approval to raise capital but investors unsure, says report Federal Bank to raise Rs 2,500 crore as growth capital BoI may sell stake in subsidiaries to raise capital to deal with bad loans Union Bank of India Q4 net rises 12.5% on Rs 420-cr tax write-back Big Indian state banks need up to Rs 95,000 crore capital by March 2019
The state-owned lender's committee of directors at its meeting today approved the capital raising issue.
"The committee... Has resolved and approved raising of equity capital through public issue (follow-on public offer) and/or rights issue and/or private placement, including qualified institutional placement for an amount of up to Rs 2,000 crore in first tranche during 2017-18," the bank said in a regulatory filing.
The stock today closed 0.53 per cent down at Rs 141.75 on the BSE.
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