Ace investor Rakesh Jhunjhunwala bought an aggregate 2.88 crore shares, or 1.59% stake, in the state-run bank in Q1 June 2021.
Further, the board of Canara Bank on 24 August 2021 approved the allotment of 16,73,92,032 equity shares to eligible qualified institutional buyers at an issue price of Rs 149.35 per equity share, aggregating up to Rs 2500 crore. The QIP opened on 17 August 2021 and closed on 23 August 2021.
Pursuant to the allotment of equity shares in the QIP, the paid-up equity share capital of the bank stands increased from Rs 1646.74 crore to Rs 1814.13 crore.
A total of seven investors have been allotted more than 5% of the equity offered in the QIP issue. LIC subscribed to 15.91%, BNP Paribas Arbitrage subscribed to 12.55%, Societe Generale took 7.97%, Indian Bank and ICICI Prudential Life Insurance took 6.37% each, Morgan Stanley Asia (Singapore) Pte-ODI bought 6.16% of the shares issued in QIP and Volrado Venture Partners Fund II subscribed to 6.05%.
Canara Bank is a public sector bank. The Government of India holds 69.33% stake in the state-owned commercial bank.
The public sector bank reported a 189% jump in standalone net profit to Rs 1177.47 crore on a 2.5% rise in total income to Rs 21,210.06 crore in Q1 FY22 over Q1 FY21.
Shares of Canara Bank were fell 1.83% at Rs 152.85 on BSE.
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