Business Markets

Canara Bank raises Rs 2,500 crore through QIP

Kochi: Canara Bank, the third largest Public Sector Bank in the country, has successfully raised capital of Rs 2,500 crore through Qualified Institutional Placement (QIP).
The QIP opened on August 17 and closed on August, 23, 2021. The QIP was fully subscribed and saw a strong response from foreign as well as from domestic Qualified Institutional Buyers (QIBs), highlighting a well-diversified representation and demand from across the world.
The last issuance was in December 2020 which was also fully subscribed. This capital will enable the bank to improve the CET ratio and in turn, will support further asset growth, a press release said here on Friday.

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