The bank has further raised tier 1 capital fund through private placement of Basel III compliant AT-1 perpetual bonds aggregating to Rs 392 crore, the public sector bank said in a regulatory filing. The coupon rate of perpetual bond is 8.44% per annum payable annually.

Shares of Indian Bank were trading 0.06% higher at Rs 87.05 on BSE.

Indian Bank is a public sector bank. The Government of India held 88.06% stake in the bank as on 30 September 2020.