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Monday, December 15, 2014

Vijaya Bank’s equity capital mop-up plan on track: CMD

Vijaya Bank is confident of raising core equity capital of Rs600 crore before the end of the current fiscal, its Chairman and Managing Director V Kannan said.

There is no plan to enhance this capital mop-up during this fiscal although the Centre was open to bring down its stake in public sector banks to 52 per cent.

“As planned earlier, we will only go in for a qualified institutional placement issue so as to mop up about Rs600 crore before end March,” Kannan told BusinessLine. This could bring down the Centre’s stake to 68 per cent from the current level of 74 per cent.

Source : Thehindubusinessline


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