State-owned Syndicate Bank said on Saturday it will raise ₹ 500 crore during this fiscal by various means, including QIP or preferential allotment.
The decision was taken at the board meeting of the bank held on Saturday.
Also read: Syndicate Bank bets on Big Data to boost growth
“The Board of Directors in its meeting approved...to raise capital for an aggregate amount not exceeding ₹ 500 crore during 2019-20 by way of qualified institutional placement/follow on public issue/preferential allotment or any other mode approved by government or RBI,” it said in a regulatory filing.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.