State-run lender Vijaya Bank on Monday launched a Rs1,000-crore institutional sale of shares with a floor price of Rs66.36 per share.
The Bengaluru-based bank can offer a discount of up to 5% on the floor price for the qualified institutions placement (QIP) of shares, it said in a regulatory filing.
The bank board had decided to go for the QIP at its meeting on 9 May, for which the shareholders had given their ascent on 23 June.
The QIP committee on Monday approved the opening of the share sale immediately, it said. The bank scrip closed 2.17% up at Rs70.75 a piece on the BSE on Monday as against a 0.49% gains in the benchmark.
Source: Mint