New Delhi: Public sector lender Indian Bank on Wednesday said its board has approved a proposal to raise up to Rs 12,000 crore through equity and debt.
In a regulatory filing, the public sector bank said the approval includes raising equity capital up to Rs 5,000 crore through QIP/FPO/rights issue or a combination thereof, subject to government and RBI approval.
Additionally, it will raise up to Rs 2,000 crore by issuing Basel-II compliant bonds during the current or subsequent financial years, depending on the need.
The Board's approval includes raising long-term infrastructure bonds aggregating up to Rs 5,000 crore in one or more tranches during the current or subsequent financial years depending on the infrastructure and affordable financing/refinancing requirement.
Accommodation.
Shares of Indian Bank were trading at Rs 565.90, down 1.66 per cent from its previous close on BSE.
In a regulatory filing, the public sector bank said the approval includes raising equity capital up to Rs 5,000 crore through QIP/FPO/rights issue or a combination thereof, subject to government and RBI approval.
Additionally, it will raise up to Rs 2,000 crore by issuing Basel-II compliant bonds during the current or subsequent financial years, depending on the need.
The Board's approval includes raising long-term infrastructure bonds aggregating up to Rs 5,000 crore in one or more tranches during the current or subsequent financial years depending on the infrastructure and affordable financing/refinancing requirement.
Accommodation.
Shares of Indian Bank were trading at Rs 565.90, down 1.66 per cent from its previous close on BSE.
