Canara Bank raises $443 mn in share sale: sources

Canara Bank raises $443 mn in share sale: sources

Mumbai: State-run lender Canara Bank has raised about 2000 crore ($443 million) by selling shares to institutional investors, two sources with direct knowledge of the development said on Thursday.

“The response from investors, especially from foreigners, was very encouraging," said a source, declining to be named as the information was not public yet. “The total upsized book portion has been covered."

The shares were sold at 604 a share, the sources said, which is a discount of nearly 3 percent to their Wednesday closing price of 620.70.

JPMorgan , HSBC , SBI Capital and JM Financial are the bookrunners for the issue, the sources said.

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