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Indian Bank’s Bank 4,000 crores. Shareholder gets node in fund raising scheme

Indian Bank on Tuesday approved its shareholders to raise equity capital of up to ₹ 4,000 crore. The bank held an extraordinary institutional meeting with an agenda to raise equity capital, which included qualified institutional placements, follow-on public offerings, rights issues or combinations. Special resolution was passed in the meeting, it said a regulatory filing

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

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