InvestorQ : Why has Indian Bank raised capital during the week?
NISHA Nayak made post

Why has Indian Bank raised capital during the week?

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Priyanka N answered.
6 months ago
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South based Indian Bank has raised Rs.1,650 crore through the QIP issue launched earlier during the week. This is part of the overall fund raising of Rs.4,000 crore via the QIP route that was already approved by the committee of directors of the bank. The issue opened on 21 June and the committee of directors opted to close it on 24 June after Rs.1,650 crore was collected as part of the QIP issue.

The committee has given its approval for the issue price of Rs.142.15 for the purpose of allotment of shares to the eligible QIBs in the issue.

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