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Board of Corporation Bank approves raising of capital

Capital Market 

At meeting held on 22 December 2017

announced that the Board of Directors at its meeting held on 22 December 2017 has approved for raising of capital in revision of earlier approval of Rs 3500 crore (out of which Rs 1300 already raised by issuance of bonds on 14 November 2017) to the extent of Rs 6500 crore in one or more tranches with green shoe option, if any by way of either issue and allotment of equity shares on preferential basis or follow on public issue or rights issue or qualified institutional placement or by way of Additional Tier I Bonds or Tier II Bonds or Debt issue or issue and allotment of equity shares on preferential basis to or in combination of these thereof or any other method as per Basel III requirement at an appropriate time as per the extant quidelines of SEBI/ RBI and with approval of RBI, Govt. of and shareholders of the

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

First Published: Sat, December 23 2017. 12:04 IST
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