The Hindu Business Line : Vijaya Bank plans to raise Rs 500 cr

New Delhi, Feb 5 Vijaya Bank will soon raise capital of about Rs 500 crore to fund business growth, said Mr Prakash P. Mallya, Chairman and Managing Director.

"It will be a mix of tier-I and tier-II capital. Under tier-I, debt offering is planned. The total amount that would be raised would be about Rs 500 crore," Mr Mallya told Business Line.

On whether the proposed offering for tier-I would be a perpetual debt instrument, he said that no final decision has been made yet.

Mr Mallya also said that the bank has enough headroom to raise tier-II capital.

After it raises capital of about Rs 500 crore, Vijaya Bank's capital adequacy ratio is likely to improve from 11.37 per cent to about 12 per cent.

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Vijaya Bank plans to raise Rs 500 cr