Tag Archives: Qualified Institutional Placement

CHENNAI: The Annual General Meeting (AGM) of Indian Bank approved a special resolution, enabling the public sector bank to raise up to Rs 5,000 crore through Qualified Institutional Placement, follow-on public offers, rights issue, or in combination, through one or more tranches. The special resolution was approved during the bank’s AGM held in June, the minutes of the meeting were …

NEW DELHI: State-owned Punjab and Sind Bank plans to raise Rs 2,000 crore through Qualified Institutional Placement (QIP) during the ongoing quarter, a top official of the bank said. The bank has already appointed merchant bankers and legal advisers for the proposed QIP, Punjab & Sind Bank managing director and CEO Swarup Kumar Saha told PTI. “With the QIP, the …