State-owned Canara Bank is looking to raise up to Rs 9,000 crore through equity and debt this financial year, as per the approval granted by the board of directors on Friday.

The Board of Directors of Canara Bank in its meeting held on Friday has approved the Capital Raising Plan of the Bank for the Year 2021-22 by way of Equity and Debt Instruments. Under this capital raise approval, the bank will raise equity capital amounting up to Rs 2,500 crore by way of qualified institutional placement (QIP) during the current fiscal it said.  The Bank further to Raise Capital through Additional Tier I Basel III Compliant Bonds to the extent of Rs 4000 Crore during the FY 2021-22 subject to market conditions and necessary approvals. 

Shares of Canara Bank last closed in NSE at Rs.161.45 per share as compared to the previous close of Rs. 153.65.

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