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Canara Bank — Capital/Financing Update 2021
Sep 30, 2021
61440_rns_2021-09-30_dfccb895-bee3-413a-87a1-c2a2601df01b.pdf
Capital/Financing Update
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| Ref:: SD:302/303/11/12::2021 | 30.09.2021 | |
|---|---|---|
| The Vice President | The Vice President | |
| BSE Ltd. | Listing Department | |
| Phiroze Jeejeebhoy Towers | National Stock Exchange of India Ltd | |
| Dalal Street | EXCHANGE PLAZA | |
| MUMBAI - 400 001 | Bandra-Kurla Complex, Bandra [E] | |
| MUMBAI - 400 051 | ||
| Scrip Code:532483 | ScripCode:CANBK |
Dear Sir/Madam,
Sub : Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 Ref : Our letter SD:110/111/11/12::2021 dated 15.06.2021
The Exchanges are hereby informed that Canara Bank has subscribed to 2,40,00,000 shares of National Asset Reconstruction Company Limited - NARCL (pending execution of Investment Agreement), details of which are enclosed as per annexure.
We request you to take note of the above pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 and upload the information on your website.
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For CANARA BANK �f<i</1 '\�4� \l"il ...... <li 3ITT cr,qf.t � Ass1s1am General Manager & Company Secretary VINAYMOHTA COMPANY SECRETARY
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�fumr 'lllfl,f� 112, �.ft"m-�- 560002 E-Mail - [email protected]
Secretarial Department Head Office 112 J C Road, Bengaluru - 560002 www.canarabank.com
F +91 80 22248831 T +91 80 22100250
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| Requisite details of the transaction: | Requisite details of the transaction: | Requisite details of the transaction: | Requisite details of the transaction: |
|---|---|---|---|
| 1.2.3.4.5.6. | Name of the target entity, detailsinbrief such as size, turnover etc.Whether thetransactionwould fllwithin related party transactions? Ifyes, whether the same is done at "armslength"Whetherthepromoter/promotergroup/groupcompanies have anyinterest in the entity being acquired? Ifyes,natureof interest anddetailsthereof.Industry to which the entity beingacquired belongs;Objectsandefectsof transaction(includingbutnotlimitedto,disclosure of reasons for acquisition of target entity, if its business is outsidethe main line of business of the listedentity);Brief details of any governmental orregulatory approvals required fr theacquisition | Name of the Target Company : National AssetReconstruction Company Limited ('NARCL')Yet to be operationalNoNot ApplicableAsset Reconstruction CompanyInvestment of equity stake of 16.09% byCanara Bank (to be reduced to12.00% by 31 December 2021)RBI approval | |
| 7.8.9. | Indicative time period for completionof the transactionNature of consideration and details ofthe samePriceatwhichthesharesarepurchased (Purchase Price per Share) | This financial year | |
| CashconsiderationcomputedasPurchaseShares multiplied by Purchase Price per Share | |||
| Rs. IO per equity share (at par) to be issued asper proposed terms of agreement | |||
| 10. | Percentage of shareholding / controlinvested and / or number of sharesinvested (Purchase Shares)Brief background about the entity | Percentage Holding: 16.09%2,40,00,000 equity shares of Rs. 10/- each(to be reduced to 12.00% by 31 December2021) | |
| 11. | Date of 'Certifcate of Incorporation' by theMinistry of Corporate afairs: OihJuly 2021Products/Lineofbusiness:AssetReconstruction CompanyHistorical Financial Infrmation(Rs in crore) : Yet to be operationalCountry: India/ |