Canara Bank raises Rs 2,500 cr through QIP

By: |
August 25, 2021 4:56 PM

The QIP was fully subscribed and saw a strong response from foreign as well as from domestic qualified institutional buyers (QIBs), the bank said in a statement.

The issue opened on August 17 and closed on August 23.

State-owned Canara Bank on Wednesday said it has raised Rs 2,500 crore through the qualified institutional placement (QIP) route.

The QIP was fully subscribed and saw a strong response from foreign as well as from domestic qualified institutional buyers (QIBs), the bank said in a statement.

“This capital will enable the bank to improve the CET (common equity tier) ratio and in turn, will support further asset growth,” the statement said.

The issue opened on August 17 and closed on August 23.

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