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Syndicate Bank launches share sale to institutional investors to raise Rs 1,200 crore

13 Dec 2017 Evaluate

Syndicate Bank has launched a share sale to institutional investors, seeking to raise up to Rs 1,200 crore ($186.4 million) to help boost its capital ratio. The deal has a base size of up to Rs 700 crore with an upsize option of up to Rs 500 crore. Moreover, the bank has set an indicative sale price of Rs 84.15 a share.

Equirus Capital, BOB Capital Markets, BNP Paribas, Centrum Capital, Elara Capital and IDBI Capital are the banks managing the share sale.

India's state-run banks are raising funds from share sales as part of the government's recapitalisation plan for the lenders that will also see New Delhi injecting Rs 1.35 lakh crore in them through recapitalisation bonds.

Synd.Bank-Amalgamat Share Price

23.40 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
Peers
Company Name CMP
SBI 1080.35
PNB 114.50
Canara Bank 142.35
Bank Of Baroda 280.00
Union Bank Of India 188.90
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