"A meeting of the Board of Directors of the bank will be held on March 3, 2016, inter alia, to consider the proposal for issue of equity shares to Life Insurance Corporation of India (LIC) through preferential issue up to Rs 226 crore," Vijaya Bank said in a BSE filing.
In January, Vijaya Bank had raised Rs 450 crore from bonds to fund business growth.
The bank had received the approval to raise Rs 500 crore from Basel-III compliant tier-II bonds by way of private placement. The bank has raised Rs 450 crore from tier-II bonds at a coupon rate of 8.64 per cent, it had said in a statement.
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