Canara Bank to Raise Rs 5,000 Crore via Basel III Tier 2 Bonds

Canara Bank plans to raise up to Rs 5,000 crore through Basel III-compliant Tier 2 bonds on February 26 via the National Stock Exchange's Electronic Bidding Platform. The issue includes a base amount of Rs 2,000 crore with a green shoe option of Rs 3,000 crore to accommodate investor demand. This capital raise aims to strengthen the bank's capital base and support its future growth plans amid strong retail-led credit expansion and a capital adequacy ratio of 16.50%.