Private sector lender ING Vysya bank is set to raise capital worth Rs 2,000 crore through the qualified institutional placement (QIP) route and issue of preferential shares.
In a meeting held on May 17, the bank’s board approved fund raising proposal by the bank through further issue of capital of up to 30 million equity shares or securities equivalent thereto, by way of preferential issue to the promoters of the Bank and qualified institutions placement to qualified institutional buyers, the bank said in a statement.