Monday , September 27 2021

Canara Bank surges on launching QIP to raise up to Rs 2,500 crore

Canara Bank is currently trading at Rs. 153.75, up by 1.10 points or 0.72% from its previous closing of Rs. 152.65 on the BSE.

The scrip opened at Rs. 152.75 and has touched a high and low of Rs. 154.25 and Rs. 151.05 respectively. So far 334699 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 174.40 on 18-Feb-2021 and a 52 week low of Rs. 82.25 on 25-Sep-2020.

Last one week high and low of the scrip stood at Rs. 159.90 and Rs. 151.05 respectively. The current market cap of the company is Rs. 25195.09 crore.

The promoters holding in the company stood at 69.33%, while Institutions and Non-Institutions held 16.27% and 14.40% respectively.

Canara Bank has launched Qualified institutional placement (QIP) to raise up to Rs 2,500 crore and set the floor price of the issue at Rs 155.58 per equity share. The bank’s sub-committee of the board, capital planning process, at its meeting held on August 18, 2021 and authorised the opening of the QIP.

Canara Bank is an Indian state-owned bank headquartered in Bangalore, in Karnataka. It was established at Mangalore in 1906, making it one of the oldest banks in the country.

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