The Rs 110 crore initial public offering (IPO) of Canara Bank is likely to hit the market in September.
According to R V Shastri, chief managing director, Canara Bank, in the run-up to the IPO, permission had been sought from the government to |return Rs 277 crore from the present paid-up capital of Rs 578 crore. The IPO will lead to the disinvestment of 27 per cent of the government
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