Vijaya Bank Public Announcement: Successful closure of the QIP

Vijaya Bank, a premier Nationalized Bank in India has finalized the allocation of 11.10cr shares thereby completing the Qualified Institutions Placement successfully. Vijaya Bank has raised Rs700 Crores through QIP route. The allocation of equity shares was done across a diverse set of investors at Rs. 63.05per share. The QIP was launched on August 28, 2017 for the issue size of Rs 450 Crs with the greenshoe option of Rs 250 Crs. The Bank has received overwhelming response from Investors with application of Rs 804.38 Crs and allotted Rs 700 Crs , the issue was closed on August 31, 2017. With the fresh augmentation of Common Equity Tier I Capital of Rs. 700 crs, the Bank will have a comfortable CRAR of 13.48% at present.
On the successful completion of the QIP issuance, Dr. Kishore Sansi, MD&CEO of Vijaya Bank said “Vijaya Bank has returned to the Indian Equity Capital Markets for the first time since Bank’s Follow-on Offer in 2003. We are delighted to welcome esteemed institutional investors including mutual funds, insurance companies, Banks etc. as our shareholders. We thank our investors for the faith reposed in the Bank. The proceeds of the QIP will be used to augment our Bank’s Tier I Capital to support growth plans and to enhance the business of our Bank and for other general corporate purposes”.

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