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State-owned Syndicate Bank said on Saturday it will raise ₹ 500 crore during this fiscal by various means, including QIP or preferential allotment.
The decision was taken at the board meeting of the bank held on Saturday.
Also read: Syndicate Bank bets on Big Data to boost growth
“The Board of Directors in its meeting approved...to raise capital for an aggregate amount not exceeding ₹ 500 crore during 2019-20 by way of qualified institutional placement/follow on public issue/preferential allotment or any other mode approved by government or RBI,” it said in a regulatory filing.
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