The Capital Raising Committee of the board in its meeting on March 12 allotted 48,700 BASEL III compliant unsecured, redeemable, non-convertible tier II bonds in the nature of debenture of Rs 1,00,000 each aggregating to Rs 487 crore, the bank said in a regulatory filing.
The capital was raised on private placement basis, it said.
The instrument will be listed on NSE.
To comply with global Basel-III capital regulations, banks need to improve and strengthen their capital planning process.
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