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At meeting held on 03 May 2025

Board of Indian Bank approves capital raising

03-May-2025, 05:18
The Board of Indian Bank at its meeting held on 03 May 2025 has approved the following:

- Raising equity capital of the Bank aggregating upto Rs.5000 crore (including premium) through various modes viz. QIP/FPO/ Rights Issue or in combination thereof.

- Raising AT-1/ Tier-2 capital aggregating upto Rs.2000 crore through issuance of Basel III Compliant AT-1 Perpetual Bonds / Tier 2 Bonds in one or more tranches during the current or subsequent financial years based on the requirement.

The Bank was having similar approval for raising equity capital and AT-1/ Tier 2 capital during FY 2024-25. However, the Bank has not approached the market to raise equity capital or AT-1/Tier 2 capital during the FY 2024-25.