Financial Daily from THE HINDU group of publications
Sunday, Jun 06, 2004
Financial Daily from THE HINDU group of publications Sunday, Jun 06, 2004 |
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Public Sector Banks Money & Banking - IPOs BoI plans second public issue Our Bureau
Mumbai , June 5 INVESTORS need not worry. The public issue pipeline has not fully dried up, despite the `red alert' on disinvestment. After a month's gap, one of the largest banks in the country, Bank of India, today announced plans to go in for a second public issue. Central Bank of India had also recently announced IPO plans for this fiscal. Bank of India has informed stock exchanges that its board of directors would be meeting on June 12 to consider raising fresh equity capital. The bank, which had its IPO in 1996 to raise Rs 150 crore, is expected to hit the market again in the current fiscal. The amount, pricing, timing and other details of the second public issue are yet to be finalised by the bank, said senior officials at Bank of India. The last set of IPOs were seen in April, which were Vishal Exports, NDTV, Datamatics, Ramkrishna Forgings and the public issue of ICICI Bank. A total of Rs 22,000 crore, the highest ever in a single fiscal, had been raised 2003-04.
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