Public Market Secondary Issues
LIC, SBI Life, Canara Bank pick up stakes in Indian Bank via QIP
Source PTI (opens in a new tab)
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.