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Canara Bank to raise up to 35B rupees via share placement

Canara Bank plans to raise up to 35 billion Indian rupees through a qualified institutional placement.

The bank will issue up to 900 million shares with a face value of 10 rupees each.

The plan was approved by the Indian lender's board, according to a Dec. 26 filing.

As of Dec. 26, US$1 was equivalent to 64.06 Indian rupees.