Oriental Bank to raise Tier I capital of Rs 300cr; stk down

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Oriental Bank to raise Tier I capital of Rs 300cr; stk down

Oriental Bank of Commerce has informed BSE that intends to raise Tier I capital amounting to Rs. 300 crores by issuing Innovative Perpetual Debt Instrument on Private Placement basis. It touched an intraday high of Rs 284.50 and an intraday low of Rs 274.15. At 1:34 pm, the share was quoting at Rs 278.45, down Rs 3.1, or 1.1%.

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Oriental Bank of Commerce (OBC) touched an intraday high of Rs 284.50 and an intraday low of Rs 274.15. At 1:34 pm, the share was quoting at Rs 278.45, down Rs 3.1, or 1.1%.

The bank has informed BSE that it intends to raise Tier I capital amounting to Rs. 300 crores by issuing Innovative Perpetual Debt Instrument on Private Placement basis. The Bank shall furnish further information as soon as the terms of the proposed issue are finalized.
 
It was trading with volumes of 105,936 shares. Yesterday the share closed down 0.55% or Rs 1.55 at Rs 281.55.