Syndicate Bank plans to raise up to Rs 4,300 crore by way of different instruments that includes selling shares, to meet business requirements and comply with global capital adequacy norms.
Syndicate Bank has said in a statement that “The bank has planned to access capital market for raising capital upto the extent of Rs 1,700 crore by issuing equity shares by way of Qualified Institutional Placement (QIP)/Right Issue/ Follow on Public Issue or any other mode.”
The bank, giving details of its annual general meeting, further said that it has also plans 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.
