Indian Bank has raised Tier-II capital fund through Private Placement of Basel-III compliant Tier-II Bonds aggregating to Rs2,000cr at a coupon of 6.18% per annum.
“The issuance/placement of said Bonds has been completed by the Bank through BSE-EBP,” the company said in a regulatory filing on Wednesday.
Indian Bank stock was in demand in early morning trade on Thursday. Each stock was trading at Rs94.25 up by Rs4.25 or 4.72% from its previous closing of Rs90 on the BSE.
The scrip opened at Rs89.65 and has touched a high and low of Rs94.50 and Rs89.50 respectively in an intraday trade on Thursday.
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