NEWS
Canara Bank launches QIP to raise Rs 2,500 cr
Canara Bank on 17 August opened its QIP to raise up to Rs 2,500 cr and set the floor price of the issue at Rs 155.58 per equity share.
Canara Bank on 17 August opened its QIP to raise up to Rs 2,500 cr and set the floor price of the issue at Rs 155.58 per equity share.
State-owned Canara Bank on 17 August opened its QIP to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share.
"The bank may at its discretion offer a discount of not more than 5% on the floor price so calculated for the QIP," Canara Bank said.
A meeting of the sub-committee of the board will be held on 23 August to determine the issue price for the equity shares as well as the number of shares to be allotted to qualified institutional buyers, pursuant to the QIP, it added.
Canara Bank had amalgamated Syndicate Bank into itself with effect from 1 April 2020
