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Indian Bank launches QIP of Rs 4,000 crore

Indian Bank

Indian Bank share price rose 2 percent after the state-owned bank launched its qualified institutional placement (QIP) of shares to raise around Rs 4,000 crore. The floor price for the QIP has been set at Rs 142.15 per share.

The committee of directors in its meeting held on June 21 approved and authorised the opening of the QIP on June 21, Indian Bank said in a regulatory filing.

News Source:- Moneycontrol

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