Syndicate Bank to raise up to Rs 500 crore this fiscal

State-owned Syndicate Bank said Saturday it will raise Rs 500 crore during this fiscal by various means, including QIP or preferential allotment.

The decision was taken at the board meeting of the bank held Saturday. (File photo)
The decision was taken at the board meeting of the bank held Saturday. (File photo)

State-owned Syndicate Bank said Saturday it will raise Rs 500 crore during this fiscal by various means, including QIP or preferential allotment.

The decision was taken at the board meeting of the bank held Saturday.

“The Board of Directors in its meeting approved…to raise capital for an aggregate amount not exceeding Rs 500 crore during 2019-20 by way of qualified institutional placement/follow on public issue/preferential allotment or any other mode approved by government or RBI,” it said in a regulatory filing.

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