Friday, Mar 29 2024 | Time 13:58 Hrs(IST)
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Business Economy


Canara Bank to raise Rs 3,000 cr for capital infusion

New Delhi, Mar 29 (UNI) State-owned Canara Bank today said it will raise Rs 3,000 crore through issuance of BASEL-III bonds to meet its future capital requirements.
“Board of the Bank has permitted the Bank to raise capital of Rs 3,000 crore through issue of BASEL-III Compliant Tier II Bonds by way of Private Placement at a Coupon Rate as decided by the Bond Committee of the Bank to support the asset growth and maintain comfortable level of CRAR”, the bank said in a statement.
The coupon rate on the bonds will be decided by the Bond Committee of the bank to support the asset growth and maintain comfortable level of CRAR, it added.
The shares of the bank were trading at Rs 181.90, down Rs 0.65, or 0.36 percent. The 52-week high of the share was Rs 411.45 and the 52-week low was Rs 156.20.


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