Indian Bank gets Sebi nod to raise capital by selling equity shares via QIP

Market regulator Securities and Exchange Board of India (Sebi) has approved public sector lender Indian Bank to raise capital by selling equity shares through a Qualified Institutional Placement (QIP), subject to approval from the Government of India. The plan is to achieve the minimum public shareholding as per the norms. At present,  the promoter Government of India has around 82 per cent of the total shares in the Indian Bank.

Bank officials were not available for a comment.