Tuesday, 29 August 2017

Vijaya Bank to raise Rs 1000-cr in QIP

State-run lender Vijaya Bank launched a Rs 1,000-crore institutional sale of shares with a floor price of Rs 66.36 per share.

The Bengaluru-based bank can offer a discount of up to 5 percent on the floor price for the qualified institutions' placement (QIP) of shares, it said in a regulatory filing.

The bank board had decided to go for the QIP at its meeting on May 9, for which the shareholders had given their ascent on June 23.

The QIP committee today approved the opening of the share sale immediately, it said.

The bank scrip closed 2.17 % up at Rs 70.75 a piece on the BSE today as against a 0.49 percent gains in the benchmark.

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