Indian Bank will raise up to Rs 12,000 cr through equity and debt

by Psu Connect
Date: 23-05-24

The Board of Directors of the Bank has approved Fund and Capital Raising Plan of the Bank worth Rs 12,000 crore.

Indian Bank will raise up to Rs 12,000 cr through equity and debt

Indian Bank Board has committed to raising Rs 12,000 crore through equity and debt. The three methods approved by the bank are-

Raising Equity Capital of the Bank aggregating up to Rs.5000 Crore (including premium) through various modes viz. QIP, FPO and Rights Issue or in combination thereof subject to the approval of Govt. of India, Reserve Bank of India, and in compliance with other statutory/regulatory provisions in this regard.

Raising AT 1 and Tier-2 Capital aggregating up to Rs.2000 Crore through issuance of Basel III Compliant AT 1 Perpetual Bonds and Tier 2 Bonds in one or more tranches during the current or subsequent financial years based on the requirement.

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Raising Long Term Infrastructure Bonds aggregating upto Rs.5000 Crore in one or more tranches during the current or subsequent financial years based on the requirement, for financing/refinancing of Infrastructure and Affordable Housing in compliance with applicable RBI guidelines and other applicable laws, rules and regulations.

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