At meeting held on 19 December 2017
The Board of Indian Bank at its meeting held on 19 December 2017 has accorded approval to the Bank to raise equity capital upto Rs.7,000 crore (including Share Premium) in one or more tranches in the current or subsequent financial years based on the requirement through FPO/ Private Placement/ QIP/ Rights Issue/ Preferential Issue/ Institutional Placement Program, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the Bank at EGM and other regulatory authorities.Accordingly, an Extraordinary General Meeting of the Bank will be held on 31 January 2018 to get the approval of the shareholders in this regard.
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