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Board of Canara Bank approves capital raising plan for FY 2020

Capital Market 

At meeting held on 18 June 2019

The Board of Canara Bank at its meeting held on 18 June 2019 has approved the following -

1. To raise Equity Share Capital amounting upto Rs 6000 crore (including premium) by way of Qualified Institutional Placements(QIP)/Rights Issue/ESPS/ Private Placement/ Preferential allotment /any other approved means during Financial Year (FY) 2019-20 subject to market conditions and necessary approvals.

2. To raise funds through Additional Tier I Basel III Compliant Perpetual Bonds to the extent of Rs 3000 crore and Basel III Compliant Tier II Bonds to the extent of Rs 3000 crore during the FY 2019-20 subject to market conditions and necessary approvals.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 18 2019. 15:15 IST
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