Canara Bank to raise Rs 3,500 cr in equity

The bank had raised Rs 1,124 crore in March through a rights issues of equity shares

Government-owned Canara Bank plans to raise up to Rs 6,300 crore, including equity up to Rs 3,500 crore, for business and regulatory requirements.
 
Its board of directors has approved. The equity capital could be raised via qualified institutional placement or a rights offer, the Bengaluru-based bank informed the BSE. Permission for this will be taken from shareholders at the next annual general meeting.
 
In March, it had raised Rs 1,124 crore through a rights issues of equity shares, at Rs 207 each (the stock closed on Thursday at Rs 352).
 
The Government of India’s stake in the