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Corporate News

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(22 May 2024, 14:21)

Board of Indian Bank approves capital raising and infra bonds issuance

At meeting held on 22 May 2024

The Board of Indian Bank at its meeting held on 22 May 2024 has approved fund/ capital raising plan of the Bank as under:

(a) Raising Equity Capital of the Bank aggregating upto Rs.5000 Crore (including premium) through various modes viz. QIP/ FPO/ Rights Issue or in combination thereof subject to approval of Govt. of India, Reserve Bank of India and in compliance with other statutory/regulatory provisions in this regard.

(b) Raising AT 1/ Tier-2 Capital aggregating upto Rs.2000 crore through issuance of Basel III Compliant AT 1 Perpetual Bonds / Tier 2 Bonds in one or more tranches during the current or subsequent financial years based on the requirement.

(c) Raising Long Term Infrastructure Bonds aggregating upto Rs.5000 crore in one or more tranches during the current or s...

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