Canara Bank eyes ₹2,000-cr QIP

State-owned Canara Bank on Friday said its board has approved raising ₹2,000 crore through qualified institutional placement (QIP). “...the board of the bank at its meeting held on September 25 decided to raise additional equity share capital amounting up to ₹2,000 crore (including securities premium), through QIP route...,” it said in a regulatory filing. The QIP be would be within the overall maximum limit of board-approved capital raising plan for 2020-21 of ₹5,000 crore equity capital and is subject to market conditions and necessary approvals, the statement further said. Canara Bank scrip gained 4.74 per cent to close at ₹87.20 apiece on BSE.