Financial Daily from THE HINDU group of publications
Tuesday, Jan 17, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 17, 2006 |
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Markets
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Public Offer Money & Banking - Public Sector Banks BoB subscribed 0.61 times; Andhra Bank 0.56 times Our Bureau
Mumbai , Jan. 16 THE follow on public issues of Bank of Baroda and Andhra Bank were subscribed 0.61 times and 0.56 times respectively. The issues, which opened today received 4.3 crore bids and 4.7 crore bids respectively, according to the NSE Web site. Bank of Baroda is issuing 7.1 crore shares for its follow on public issue, for which it received 32.64 lakh bids at the cut off price. The price band was fixed between Rs 210 and Rs 230 and the minimum bid lot size for the issue is 30 shares. Andhra Bank's public issue of 8.5 crore equity shares received 1.84 crore bids at the cut off price. The bank had fixed the price band at Rs 82-Rs 90, with a minimum bid size of 75 shares. The Government's stake in BoB will fall to 53.81 per cent from 66.83 per cent post the issue, while in Andhra Bank it will decline to 51.55 per cent from 62.5 per cent.
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