Indian Bank committee of directors on Wednesday approved the raising of equity capital of the bank aggregating to ₹4,000 crore, the company announced through an exchange filing.
The bank will raise the funds through qualified institutions placement in one or more tranches depending on the statutory and regulatory approvals.
Fitch Ratings says Indian Banks operating environment has strengthened
Fitch Ratings on Wednesday said the operating environment for Indian banks has strengthened as economic risks associated with the Covid-19 pandemic have ebbed.
A number of prudential indicators for the sector have also improved compared to pre-pandemic levels, and the operating environment score continues to benefit from the economy's well-diversified structure, which helps to reduce banks' exposure to specific sector-focused shocks.
Indian Bank shares
The shares of Indian Bank on Wednesday afternoon at 1:50 pm IST were trading at Rs 388, down by 0.96 per cent.
