Syndicate Bank to raise Rs 1,500 cr by December

It would raise Rs 1,100 cr through QIP route and the remaining Rs 400 cr through Tier-2 bonds

Syndicate Bank is planning to raise Rs 1,500 crore to meet its business needs by  December this year. Bank's executive director M Anjaneya Prasad on Friday said they would raise Rs 1,100 crore through the qualified institutional placement (QIP) route and the remaining Rs 400 crore through Tier-2 bonds.

According to Prasad, the headroom available for the bank is Rs 3,250 crore.