Indian Bank’s ₹4,000-cr. fund-raise plan gets shareholder nod

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Indian Bank on Tuesday secured its shareholders nod to raise equity capital up to ₹4,000 crore. The bank held an extraordinary general meeting with an agenda to raise equity capital either qualified institutional placement, follow-on public offering, rights issue or in combination. The special resolution was passed at the meeting, it saidin a regulatory filing

During January 2021, the board had approved the move to raise equity capital to enhance its capital base and another Rs.3,000 crore through bonds..

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