State-owned Corporation Bank today said its board has approved raising Rs 1,000 crore capital in multiple tranches and with a green-shoe option.
"The Board of Directors...Has approved raising of capital of the bank to the extent of Rs 1,000 crore in one or more tranches with green shoe option if any by way of either issue and allotment of equity shares on preferential basis or by way of additional tier I bonds or follow on public issue", it said in a filing on BSE.
Besides, the Bank can also opt the route of a rights issue or a qualified institutions placement or debt issue or any other method as per Basel III requirements, it added.
The bank has yet to determine the issue price for equity allotment.
Corporation Bank said the raising plans of the said Rs 1,000 crore is exclusive of the earlier approval on November 6, 2014 where Rs 500 crore by way of additional tier I bonds and Rs 500 crore by way of tier II bonds yet to be raised.
Shares of the bank closed 2.51 per cent higher at Rs 40.85 apiece on BSE today.
