Public Market

Secondary Issues

LIC, SBI Life, Canara Bank pick up stakes in Indian Bank via QIP

PTI  

Life Insurance Corporation (LIC), SBI Life and Canara Bank were among the top investors picking up stakes in Indian Bank under a QIP. LIC picked up 17.8% of the shares issued, followed by SBI Life Insurance (11.87%), SBI Mutual Fund and its various schemes (11.87%), Societe Generale and its various schemes (9.74%) and Canara Bank (5.93%). Indian Bank raised a total of INR 1,650 crore at INR 142.15 a share.