Canara Bank closes QIP issue on 10 Dec

Fixes Issue Price of Rs 103.50

The QIP Sub-Committee of Canara Bank at its meeting held on 10 December 2020 has approved the following:

(i) approved the closure of the issue period for QIP today (i.e., December 10, 2020);

(ii) approved the Issue Price at the Floor Price of Rs. 103.50 per Equity Share (including the share premium of Rs.93.50 to the face value of Rs. 10 per Equity Share), determined as per the formula prescribed under Regulations 176(1) of the SEBI ICDR Regulations for an aggregate value of Rs.2000 crore to be allotted to eligible qualified institutional buyers in the QIP;

(iii) approved and adopted the placement document dated 10 December , 2020, in connection with the QIP (the "placement Document"); and

(iv) approved the Confirmation of Allocation Note to be sent to the qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the QIP.

Powered by Capital Market - Live News