The Bank is well-positioned to serve the market and benefit from the opportunities that would arise going forward.
The equity issuance witnessed healthy participation from the global and domestic investor community, including foreign portfolio investors, domestic mutual funds
and insurance companies.
The names of allottees include Monetary Authority of Singapore (11.08 per cent), Morgan Stanley Investment Management Inc (7.31 per cent) and Societe Generale (5.55 per cent).
Many private sector lenders have raised funds to create a buffer so that they are in a position to absorb any kind of shock emanating from the pandemic. Axis Bank
has raised equity capital of Rs 10,000 crore through QIP
and Mortgage Lender Housing Development Finance
Corporation (HDFC) also raised Rs 10,000 crore equity capital.
Many state owned lenders like Punjab National Bank, Bank of Baroda and Canara Bank are also in the process of raising funds.