Canara Bank to raise Rs. 900 crore

Canara Bank has informed BSE that as per the powers delegated by the Board of the Bank, the Bond Committee has decided to raise Rs 900 Crores.

Canara Bank has informed BSE that as per the powers delegated by the Board of the Bank, the Bond Committee has decided to raise Basel III Compliant Tier -II Bonds amounting to Rs. 900 Crore (as Series - II) by way of Private Placement. Accordingly, the Bank has successfully raised Rs. 900 Crore under BASEL-III Compliant Tier-II Bonds on January 07, 2016 with a coupon of 8.40 % PA.

The scrip opened at Rs. 220 and has touched a high and low of Rs. 222.1 and Rs. 220 respectively. So far 449813(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 11888.79 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 478.4 on 28-Jan-2015 and a 52 week low of Rs. 218 on 07-Jan-2016. Last one week high and low of the scrip stood at Rs. 239.5 and Rs. 218 respectively.

The promoters holding in the company stood at 66.3 % while Institutions and Non-Institutions held 27 % and 6.71 % respectively.

The stock is currently trading above its 200 DMA.