New Delhi: Oriental Bank of Commerce on Monday said it will raise up to Rs 1,000 crore by issuing bonds on a private placement basis.
The capital to be raised will be added to the public sector bank's Tier-II capital.
"The bank intends to raise tier-II capital through private placement of Basel-III compliant tier-II bonds aggregating to Rs 500 crore with an option to retain over-subscription of up to Rs 500 crore", it said in a regulatory filing.
Shares in OBC, on Monday, ended 1 per cent lower at Rs 89.10 apiece on the BSE, whose benchmark Sensex finished down 0.89 per cent.
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