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Responding to some reports of Canara Bank raising capital through selling of shares to institutional investors or through a preferential issue, the bank said that it has the Government’s approval to raise equity capital only through qualified institutional placement (QIP).
The bank has the approval to raise equity capital of Rs 80 crore (eight crore equity shares of Rs 10 each) with additional share premium, with a Green Shoe Option of Rs 5 crore (0.5 crore equity share of Rs 10 each) through QIP during FY 2014-15, the bank in a communication to the stock exchanges said.
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