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India's Canara Bank seeks to raise 70B rupees via share issue

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India's Canara Bank seeks to raise 70B rupees via share issue

India's Canara Bank is looking to raise up to 70 billion rupees through the issuance of shares.

The state-owned bank said June 13 that it will consider raising the capital through one or more of the following: qualified institutional placement, rights issue, preferential allotment, private placement or employee stock purchase scheme, subject to market conditions and necessary approvals.

As of June 13, US$1 was equivalent to 67.52 Indian rupees.