For Quick Alerts
For Daily Alerts

Corporation Bank Shares Gain Over 2.5% On Fund Raising Plans

By Super

Mumbai, Mar 10 (PTI) Shares of Corporation Bank today rose by over 2.5 per cent as the company's board approved raising Rs 1,000 crore capital in multiple tranches.

The stock gained 2.44 per cent to Rs 41.85 on BSE.

Corporation Bank Shares Gain Over 2.5% On Fund Raising Plans
Corporation Bank: Quotes, News
BSE 14.30BSE Quote0.4 (2.80%)
NSE 14.30NSE Quote0.45 (3.15%)

On NSE, shares of the company went up by 2.57 per cent to Rs 41.90. "The Board of Directors...have 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", the company had said in a BSE filing yesterday.

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 is yet to determine the issue price for equity allotment.


Read more about: corporation bank
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more