Indian Bank to raise up to Rs 4,000 crore
SECTIONS
Last Updated: Mar 09, 2021, 08:40 PM IST
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Agencies
The government as the promoter of the bank holds 88.06 per cent in the Chennai-headquartered Indian Bank.
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NEW DELHI: State-owned
Indian Bank on Tuesday said its committee of directors has given approval for raising up to Rs 4,000 crore through share sale. Shareholders of the bank on March 2 had given approval for the capital raising. The Committee of Directors in its meeting held on March 9, 2021, has accorded approval for raising of equity capital of the bank aggregating up to Rs 4,000 crore (including premium) through qualified institutions placement (QIP) in one or more tranches, Indian Bank said in a regulatory filing.