Indian Bank FPO in June,2011

December 1, 2010   ·   0 Comments

Follow-on public offer (FPO) of Indian Bank will hit market by June 2011. The bank will raise Rs 1600 crore via FPO and will dilute equity by 10%. It is going to file draft red herring prospectus (DRHP) by April 2011,

Additionally, the bank will also raise Rs 1600 cr of Tier II capital in 2011. Divulging details about the company’s further plans, Bhasin added that the bank would reach Rs 5 lakh crore total business by March 2015.

On the Bombay Stock Exchange, the stock closed at Rs 280.45, up Rs 13.35, or 5.00% hitting upper circuit.

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