The listed non-financial companies raised fresh equity capital worth Rs 1.6 trillion in FY22 down 57 per cent from FY21
Capital raising delayed amid volatile markets, lower risk apetite among investors
Lender eyes equity offering by Q4FY23 or early FY24
Lender was aiming to raise Rs 127 crore for growth plans
The bank would raise equity capital at appropriate time in the current fiscal to support growth, according to a regulatory filing on Tuesday.
Bank of India said the capital is to be raised during the period of one year from the date of passing of the resolution in one or more tranches.
The Chennai-based state-owned lender said it will seek shareholders' approval for raising the equity capital
The lender said it has decided to seek permission of its shareholders in the ensuing annual general meeting (AGM)/extra-ordinary general meeting (EGM) called for this purpose
Lender could look at options such as QIP, FPO and preferential issue
No overseas equity capital market issues have been seen in the last three years
The capital will also be utilised to fund the expansion plans in the targeted regions
Govt exploring insurance bonds as alternative to bank guarantees
Last week, the bank had launched the qualified institutions placement (QIP), setting the floor price at Rs 155.58 per equity share
India Ratings said capital infusion was critical in providing adequate buffers for growth and mitigate any possible asset-side stress
Mulls QIP for equity capital raise
The board also gave nod to the issuing of non-convertible debentures of up to Rs 1,000 crore
Seeks shareholders nod for extra Rs 4,000 cr in equity capital
State-owned UCO Bank on Thursday said its board has approved raising Rs 3,000 crore equity capital for the current fiscal year.
The board of IDBI Bank will consider the proposal to raise equity capital through various modes in its meeting on May 15
Punjab National Bank (PNB) on Monday said its board has approved raising equity capital from qualified institutional investors to enhance its capital base.