Vijaya Bank intends to raise capital worth Rs 750 crores
DSIJ Intelligence / 08 Nov 2016
Vijaya Bank, the fastest growing PSU is in the limelight as the bank has capital raising plans on the cards. Vijaya Bank has informed BSE that the Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of 10.00 lakhs each at par aggregating to Rs 750 crore.
Vijaya Bank, the fastest growing PSU is in the limelight as the bank has capital raising plans on the cards. Vijaya Bank has informed BSE that the Bank intends to raise Tier 1 Capital through Private Placement of Basel III Compliant Additional Tier 1 Bonds of 10.00 lakhs each at par aggregating to Rs 750 crore. The proposed Bonds Issue has been rated as "AA-" by CARE ratings and "AA-" by ICRA Ltd.
The shares of the bank in the last 3 months have given a return of 7 per cent. In the last 6 months shares have rallied over 33 per cent. Fifty-two-week high/low of Vijaya Bank stands at Rs 46.60/28.70. It would be interesting to see if the scrip sees some positive movements.
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