Private lender ING Vysya Bank has received the shareholders’ approval to raise funds through issuance of 2.85 crore shares to the promoters and qualified institutional players. However, the bank did not specify the amount to be raised from the proposed offers. The company will sell up to 1.5 crore shares to institutional buyers through a qualified institutional placement and up to 1.3 crore equity to the bank’s promoters.
Earlier in may this year, the company’s board approved the said fund raising plan.
The bank’s net profit for the quarter ended March 31, 2011 had increased by 34.44% at Rs 91.30 crore as compared to Rs 67.91 crore for the quarter ended March 31, 2010. Its total income for the quarter under review had registered a growth of 32.35% to Rs 947.42 crore as compared to Rs 715.82 crore for the corresponding quarter of the previous year.
Company Name | CMP |
---|---|
HDFC Bank | 1518.65 |
ICICI Bank | 1142.00 |
Axis Bank | 1140.50 |
Indusind Bank | 1482.70 |
Kotak Mahindra Bank | 1547.25 |
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