Canara Bank to raise up to Rs 7,000 crore in FY19

MUMBAI: State-owned Canara Bank on Wednesday said it will raise up to Rs 7,000 crore through various means, including rights issue and qualified institutional placement (QIPs).

"...the Board of the bank...has decided to raise equity share capital amounting up to Rs 7,000 crore (including premium) by way of QIP/rights issue/ESPS/ private placement/ preferential allotment/any other approved means during financial year 2018-19 subject to market conditions and necessary approvals," the bank said in a BSE filing.

The bank's shares closed 0.09 per cent higher at Rs 280.20 apiece on the BSE.