Enam, ICICI Securities, Kotak Mahindra Capital to market Indian bank's FPO
Government-owned Indian Bank has appointed merchant bankers for its Rs 1,600-crore follow-on public issue.
By ET Bureau | Updated:
Government-owned Indian Bank has appointed merchant bankers for its Rs 1,600-crore follow-on public issue.
Of the 14 applications it received, the South-based bank has appointed SBI Capital Markers, Kotak Mahindra Capital, ICICI Securities and Enam Securities. Following the FPO, the government holding in the bank will come down to 70% from 80%.
Bank officials say that the issue would hit the capital market some time in August. The bank plans to issue 6.14 crore shares for sale under the FPO.
Contributed by Sangita Mehta and Shailesh Menon
Of the 14 applications it received, the South-based bank has appointed SBI Capital Markers, Kotak Mahindra Capital, ICICI Securities and Enam Securities. Following the FPO, the government holding in the bank will come down to 70% from 80%.
Bank officials say that the issue would hit the capital market some time in August. The bank plans to issue 6.14 crore shares for sale under the FPO.
Contributed by Sangita Mehta and Shailesh Menon
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