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Syndicate Bank has said that in this fiscal it is going to raise up to Rs 4,300 crore through various instruments including Basel-III complaint bonds, rights issue and preferential allotment.
Syndicate Bank has said in a BSE filing that “The Board of Directors… approved to raise equity capital of Rs 1,700 crore inclusive of premium to be decided as per the guidelines by way of Qualified Institutional Placement (QIP) /Rights Issue/Preferential allotment or any other mode… during financial year 2016-17.”
“The board also approved to raise Basel-III complaint additional tier-I bonds up to Rs 1,000 crore and tier-II bonds up to Rs 1,600 crore… during financial year 2016-17, ” it added.
