The board of directors considered and approved to raise capital through an issuance of non-convertible redeemable unsecured Basel III compliant tier II bonds for amount up to Rs 1,500 crore, the bank said in a regulatory filing.
The base issue size is of Rs 500 crore with a green shoe option up to Rs 1,000 crore. Under the Basel-III capital regulations, banks globally need to improve and strengthen their capital planning processes.
Shares of Central settled 4.93% up at Rs 30.85 apiece on BSE.