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BANKING/FINANCE: Follow-on offer likely next year: Indian Bank CMD.
from BUSINESS LINE, October 23, 2010 Chennai, Oct. 22 - Expect Indian Bank's follow-on public offer (FPO) next year. Some time after the year-end auditing is over the bank might begin work on it, says the bank's Chairman and Managing Director, Mr T. M. Bhasin. So, the bank's FPO is not around-the- corner, but is certainly on the cards.
The idea is still to fully take shape, but Mr Bhasin gave Business Line indications that the bank might want to mop up about Rs 1,500 crore from the issue.
The bank certainly does not need the money in a hurry either. Its capital adequacy ratio (on Basel-II basis) is …
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