Canara Bank share price: Canara Bank launches QIP to raise up to Rs 2,500 cr

New Delhi: State-owned on Tuesday opened its QIP to boost as much as Rs 2,500 crore and set the ground value of the difficulty at Rs 155.58 per fairness share. The financial institution’s sub-committee of the board, capital planning course of, at its assembly held on Tuesday and authorised the opening of the QIP (certified institutional placement), Canara Financial institution mentioned in a regulatory submitting.

The lender mentioned the ground value of the difficulty has been set at Rs 155.58 per fairness share.

“The financial institution might at its discretion provide a reduction of no more than 5 per cent on the ground value so calculated for the QIP,” Canara Financial institution mentioned.

A gathering of the sub-committee of the board might be held on August 23, to find out the difficulty value for the fairness shares in addition to the variety of shares to be allotted to certified institutional consumers, pursuant to the QIP, it added.
Canara Financial institution’s shares on Tuesday closed 3.05 per cent down at Rs 152.65 apiece on the BSE.