Public sector lender, Indian Bank’s follow-on-public offer (FPO) is likely to hit the capital market in next year. The bank had planned to sell 61.4 million shares post receiving approval from government in May 2011.
The said FPO was expected to open in October 2011, however, was deferred by bank amid volatile market conditions. Indian Bank, presently operating with sufficient capital, may require additional funds post FY12. The capital adequacy ratio was at 12.23% as at end of September 2011.
The bank as part of expanding its services has planned to open 2,000 branches by March 31, 2012. Currently, it has about 1900 branches and 1,200 ATMs across India.
Indian bank’s net profit for the second quarter has increased marginally by 12.73% at Rs 468.69 crore as compared to Rs 415.77 crore for the corresponding quarter of the last year. The bank’s total income has surged 31.96% at Rs 3377.13 crore for the quarter under review as compared to Rs 2559.28 crore for the second quarter of the previous year.
| Company Name | CMP |
|---|---|
| SBI | 1080.35 |
| PNB | 114.50 |
| Canara Bank | 142.35 |
| Bank Of Baroda | 280.00 |
| Union Bank Of India | 188.90 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: