Board of Canara Bank approves capital raising plan for Rs 9000 cr for FY22

At meeting held on 28 May 2021

The Board of Canara Bank at its meeting held on 28 May 2021 has approved capital raising plan for year 2021-22 amounting to Rs 9000 crore by way of equity and debt instruments. The details of the capital raising plan are as follows:

1. To raise equity share capital amounting up to Rs 2500 crore (including premium) by way of qualified institutional placement (QIP) during the financial year (FY) 2021-22 subject to market conditions and necessary approvals.

2. To raise capital through additional tier I Basel III compliant bonds to the extent of Rs 4000 crore during the FY 2021-22 subject to market conditions and necessary approvals.

 

3. To raise capital through additional tier II Basel III compliant bonds to the extent of Rs 2500 crore during the FY 2021-22 subject to market conditions and necessary approvals.

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