Canara Bank will raise up to Rs.4,500 crore via issue of shares to investors, including FIIs, QIBs or NRIs.

In a regulatory filing the bank stated that, in the proposed extra ordinary general meeting scheduled on March 1, it will place the proposal for getting approval for “raising of capital of up to Rs.1,000 crore in addition to Rs.3,500 crore approved by the shareholders of the bank, thus aggregating in all up to Rs.4,500 crore from investors other than the government.”

The proceeds will be used for meeting the capital requirements of the bank and the growth in its assets, mainly loans and investment portfolio and for other general corporate purposes including meeting the expenses of the issue.

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