State-run commercial lender Central Bank of India has filed papers with the regulator for an initial public offering to sell 20 percent, which bankers said could raise about Rs 80 crore ($197 million).
The bank said in its offer document it planned to sell 80 million shares, or a fifth of its post-issue capital.
"We are aiming for about 8 billion rupees," said a banker associated with the issue, adding it may open for subscription in July. Another banker also gave a similar figure.
The bank's net profit jumped 93 percent to Rs 49.8 crore in the fiscal year ended March, boosted by lower provisioning for bad loans, it said in the offer document.
ICICI Securities, Citigroup, Enam Financial, IDBI Capital and Kotak Mahindra are arrangers to the issue.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment