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Indian Bank raises Rs 2,000 crore by issuing bonds

Capital Market 

Indian Bank said the bank has raised Tier 2 Capital Fund through Private Placement of Basel III compliant Tier 2 Bonds aggregating to Rs 2000 crore at a coupon of 6.18% p.a. payable annually.

The issuance/placement of Bonds has been completed by the Bank through BSE-EBP.

The announcement was made after market hours yesterday, 13 January 2021. Shares of Indian Bank fell 1.75% to settle at Rs 90 yesterday.

The stock hit a 52-week high of Rs 110.25 on 24 January 2020. The stock hit a 52-week low of Rs 41.70 on 25 March 2020.

Indian Bank is a public sector bank. The Government of India held 88.06% stake in the bank as on 30 September 2020.

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

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First Published: Thu, January 14 2021. 08:48 IST