Canara Bank board meeting on Friday to consider capital raise for this fiscal

The bank is looking to raise capital through a mix of equity and debt instruments

State-run Canara Bank on Monday said it is looking to raise capital through a mix of equity and debt instruments in the current fiscal and a meeting of the board of directors will take place on May 28.

However, the bank has not mentioned how much amount it plans to raise during 2021-22.

"The board meeting of the bank is scheduled to be held on May 28, 2021 at the head office, Bengaluru, to consider and approve the capital raising plan of the bank for FY 2021-22," Canara Bank said in a regulatory filing.

The lender said the capital is slated to be raised through qualified institutional placement (QIP), follow-on public offer, rights issue, preferential issue or any other means or a combination. It may also include the issue of Basel III bonds or other such securities.

Canara Bank stock traded at Rs 155.70 apiece on the BSE, up 1.96 per cent from previous close.