Corporate News 08-May-23
Indian Bank approves Raising of Capital
On 8 May 2023
The Board of Indian Bank on 8th May 2023 has approved raising Equity Capital of the Bank aggregating upto Rs.4000 crore (including premium) through various modes viz. QIPI FPOI Rights Issue or in combination thereof and raising of AT 1/ Tier-2 Capital aggregating upto Rs.3000 crore through issuance of Basel III Compliant AT 1 Perpetual Bonds / Tier 2 Bonds in one or more tranches during the current or subsequent financial years based on the requirement.
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