State-owned Canara Bank on Friday said it has raised Rs 2,000 crore equity capital by issuing over 19 crore shares to eligible investors.

LIC has emerged as the largest investor in the bank’s qualified institutional placement (QIP).

The sub-committee of the board at its meeting held on Friday approved the allotment of 19,32,36,714 equity shares to eligible qualified institutional buyers (QIBs) at an issue price of Rs 103.50 per equity share, aggregating up to Rs 2,000 crore, Canara Bank said in a regulatory filing.

The QIP had opened on December 7 and closed on December 10.

The allottees — who were allotted more than 5 per cent of the total equity shares on offer — include Life Insurance Corporation (25 per cent), BNP Paribas Arbitrage (9.11 per cent), Nippon Life India Trustee Ltd (8.81 per cent), Societe Generale (7.91 per cent) and Kuber India Fund (6.16 per cent).

Following the QIP, the paid-up equity share capital of the bank stands increased to Rs 1,646.74 crore, comprising 1,64,67,38,220 equity shares of the face value of Rs 10 each.