Canara Bank opens QIP, fixes floor price as Rs. 103.50

The Sub Committee of the Board - Capital Planning Process of Canara Bank has at its meeting held today, has authorized the opening of the qualified institutional placement (QIP), from December 7, 2020.

The committee has approved and adopted the Preliminary Placement Document dated December 7, 2020 (the "Preliminary Placement Document") and the application form dated December 7, 2020, in connection with the QIP.

It has also approved the floor price for the QIP at Rs 103.50 per equity share.

The committee will consider and determine the issue price for the Equity Shares as well the number of shares to be allotted to qualified institutional buyers, pursuant to the QIP on Thursday, December 10, 2020.

Shares of CANARA BANK was last trading in BSE at Rs.117.55 as compared to the previous close of Rs. 111.3. The total number of shares traded during the day was 2418321 in over 15304 trades.

The stock hit an intraday high of Rs. 119.2 and intraday low of 111.35. The net turnover during the day was Rs. 278763669.

Source : Equity Bulls

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