Canara Bank to raise funds

Canara Bank’s board of directors has approved raising of funds through the qip route or by way of preferential allotment during the current financial year.

In a communication to the stock exchanges, the bank said that its board today discussed various options to raise because of Base III guidelines and to meet its business requirements. The board choose to raise funds through QIP mode pr through preferential allotment In the current fiscal. It has constituted a Committee of  Directors to fix the option.

Today Canara bank closed at 292.80 up by Rs 6 in BSE Exchange.