INSUBCONTINENT EXCLUSIVE:
offer to invest $1.2 billion
It will also consider a proposed $500 million investment by Citax Holdings in a fresh round of fundraising later.
In late November, the bank
had said it plans to raise a total of $2 billion on a preferential allotment basis from a total of eight investors which included
institutional investors and family offices
bank with a term sheet extended to December 31.
However, Braich had since given an updated offer which the bank decided not to go ahead with
consideration and further evaluation
?10,000 crore, in one or more tranches, through either a qualified institutional placement, global or American depository receipts, foreign
currency convertible bonds or other methods on private placement basis
8.60 per cent , just above the mandatory 8 per cent level
In August 2019 it raised $275 million by selling shares to a bunch of domestic and foreign portfolio investors.
It posted a loss of ?600
crore in the September quarter due to a one-off tax hit of ?709 crore due to change in the corporate tax rate regime
Excluding this one-time hit, the adjusted profit was ?109 crore