Shares of Canara Bank rose over 7% touching to Rs. 126.4, after it released a Rs. 2,000 crore certified institutional placement (QIPs) to elevate finances from the institutional buyers.
The financial institution has set the floor rate for the QIP at Rs. 103.50 in step with share. The bank’s sub-committee Capital Planning Process of the bank authorized the outlet of the QIP issue and accepted the ground rate.
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