Indian Bank raises Rs 392 crore from AT-1 bonds

Indian Bank on Wednesday announced that it has raised Rs 392 crore through Private Placement of Basel III compliant AT 1 perpetual bonds.

The bank has further raised tier 1 capital fund through private placement of Basel III compliant AT-1 perpetual bonds aggregating to Rs 392 crore, the public sector bank said in a regulatory filing. The coupon rate of perpetual bond is 8.44% per annum payable annually.

Shares of Indian Bank were trading 0.06% higher at Rs 87.05 on BSE.

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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