Financial Daily from THE HINDU group of publications
Wednesday, Jul 06, 2005

News
Features
Stocks
Port Info
Archives
Google

Group Sites

Markets - Public Offer
Money & Banking - Public Offer


Syndicate Bank fixes offer price band at Rs 46-50

Our Bureau

Mumbai , July 5

SYNDICATE Bank has announced that the price band for its follow-on public issue will be between Rs 46 and Rs 50, according to a release from the bank.

Syndicate Bank will offer five crore equity shares of Rs 10 each for cash through a 100 per cent book-building process. The issue will open on July 7 and close on July 13.

Of the total offer, the bank has reserved 50 lakh equity shares to be offered to its eligible employees.

Of the balance net offer, 22.50 million equity shares, that is, 50 per cent of the net offer are reserved for allotment to qualified institutional buyers on a discretionary basis and 6.75 million shares, that is, 15 per cent of the net offer are reserved for allotment to non-institutional buyers. The balance 15.75 million shares, that is, 35 per cent of the net offer would be allotted to retail investors on a proportionate basis, the release added.

The book running lead managers of the issue are SBI Capital Markets Ltd, Enam Financial Consultants Pvt Ltd, JM Morgan Stanley Pvt Ltd, and SSKI Corporate Finance Pvt Ltd.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page


Stories in this Section
SBI MF launches fund focussing on commodity stocks


Bears prevail
Riddhi Siddhi Gluco remains firm on fundamentals
Reliance Capital betting on new biz plans
J&K Bank counting on better results
FMCGs, IT witness correction; auto mixed
Syndicate Bank fixes offer price band at Rs 46-50


The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2005, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line