Advertisement

  • News
  • Columns
  • Interviews
  • BW Communities
  • Events
  • BW TV
  • Subscribe to Print
  • Editorial Calendar 19-20
BW Businessworld

Canara Bank Raises Rs 2,500 Cr Through QIP

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.

Photo Credit :

1483536223_mME23r_Canara_Bank_ATM_PTI.jpg

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.

(PTI)