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INDIANB - Indian Bank News Story

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Sector
Financials
Size
Mid Cap
Market Cap £1.35bn
Enterprise Value £2.82bn
Revenue £1.92bn
Position in Universe 240th / 3109

BRIEF-Indian Bank proposing to raise 11 bln rupees via bonds

Mon 11th January, 2016 12:16pm
Jan 11 (Reuters) - Indian Bank  INBA.NS : 
 * Proposing to seek the approval to permit the bank to raise Basel III 
   compliant tier II bonds for 11 billion rupees 
 * Source text: 
Indian Bank has informed BSE that pursuant to the Bank's Strategic Plan discussed by its Board on October 26, 2015, the Bank is proposing to seek the approval of its Board in the ensuing Board Meeting to be held on January 19, 2016 to permit the Bank to raise Basel III compliant Tier II Bonds for Rs. 1100 crore in one or more tranches in the current or subsequent years based on the requirement. 
 * Further company coverage  INBA.NS   
 
   ((Bengaluru Newsroom; +91 80 6749 1130))
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