Moneycontrol
Jun 15, 2017 10:30 PM IST | Source: Moneycontrol.com

Canara Bank: Outcome of board meeting

This is to inform the Exchange that the Board of the Bank, during the course of their meeting on June 15, 2017.

Canara Bank: Outcome of board meeting

This is to inform the Exchange that the Board of the Bank, during the course of their meeting on 15.06.2017, has discussed the Agenda Item as mentioned in the cited letter and permitted the Bank to raise Capital at an appropriate time subject to necessary approvals and eligibility as per the following details :


-Equity capital up to Rs. 3500 Crore, inclusive of premium to be decided, by way of Qualified Institutional Placement / Rights Issue / Preferential Allotment / Follow-on Public Offer / any other mode approved by Reserve Bank of India / Government of India;

-Basel III Compliant Additional Tier I Bonds up to Rs. 1800 Crore; and

-Basel III Compliant Tier II Bonds up to Rs. 1000 Crore;

The bank would seek the approval of the shareholders for raising of Equity Capital in the ensuing AGM of the Bank.
(Commencement of the Board Meeting : 02.30 PM and Conclusion of the Meeting : 07.25 PM)

Source : BSE
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