Canara Bank Successfully Raised Capital of Rs. 2500 crores Through QIP

KOCHI:
Canara Bank, the third-largest Public Sector Bank in the country has successfully raised capital of Rs. 2500 crores through Qualified Institutional Placement (QIP).

The QIP opened on August, 17th 2021 and closed on August, 23rd 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.