Corporation Bank has decided to raise Rs 1000 crore capital in multiple tranches and with a green-shoe option as it received approval from its board for the same. The bank said it can also opt the route of a rights issue or a qualified institutions placement or debt issue or any other method as per Basel III requirements. It said this would be exclusive of the earlier approval in November 2014 for Rs 500 crore by way of additional tier I bonds and Rs 500 crore by way of tier II bonds.
Indian Bank too will raise Rs 1100 crore through Basel-III compliant tier-II or additional tier-I bonds. It has received approval from the board of directors. It will raise the sum in one or more tranches in the current or subsequent years based on the requirement.
