Canara Bank scoops up Rp20bn from share sale

By Jonathan Breen
09 Dec 2020

Indian public sector lender Canara Bank has raised Rp20bn ($271.8m) from the sale of a chunk of primary shares, according to a banker close to the deal.

Canara sold the stock through a qualified institutional placement (QIP) that drew the attention of international and local investors.

“The QIP was subscribed 2.5 times with around Rp50bn of demand,” said the banker, adding that there was strong demand from domestic and foreign accounts. More than 70% of ...

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