Canara Bank launches QIP to raise up to ~2,500 crore

State-owned Canara Bank on Tuesday opened its QIP to raise up to ~2,500 crore and set the floor price of the issue at ~155.58 per equity share. The bank's sub-committee of the board, capital planning process, at its meeting held on Tuesday and authorised the opening of the QIP (qualified institutional placement), Canara Bank said in a regulatory filing. The lender said the floor price of the issue has been set at ~155.58 per equity share. "The bank may at its discretion offer a discount of not more than five per cent on the floor price so calculated for the QIP," Canara Bank said.