Corporation Bank to raise Rs 1600 crore

The Corporation Bank is raising Rs 1600 crore through Tier-I and Tier-II bonds.
 
It will raise Rs 600 crore as Tier-I Bond and perpetual Bonds. At the same time, bank will be raising Rs 1000 crore through upper Tier- II Bond.
 
This is in addition to the raising of lower Tier-II Bond to the tune of Rs 1200 crore.
 
The bank's board approved these proposals today.
 
On the Bombay Stock Exchange, the shares prices of Corporation Bank were trading at Rs 261.25, up 0.64 per cent at IST 1432.