Rakesh Jhunjhunwala acquires 1.59% stake in Canara Bank

Rakesh Jhunjhunwala acquires 1.59% stake in Canara Bank

Rakesh Jhunjhuwala has added PSU lender Canara Bank stock to his portfolio, according to the latest shareholding pattern of the bank available with the stock exchanges.
Jhunjhunwala acquired a 1.59% stake in Canara Bank during April to June 2021 quarter.
According to the regulatory filing of Canara Bank, Rakesh Jhunjhunwala now owns 1.59% of Canara Bank or 2,8850;000 equity shares of face value Rs 10 each. Earlier Canara Bank had announced the completion of a Qualified Institutional Placement (QIP), where the bank approved the allotment of 16;73,92,032 equity shares to eligible qualified institutional buyers at an issue price of Rs 149.35 per equity share; aggregating up to Rs 2,500 crore. The QIP opened on August 17 and closed on August 24. Currently, shares of Canara Bank trade at Rs 155.7 apiece after gaining nearly 2% yesterday.

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