Thursday 13 September 2012
Indian Bank may raise capital through FPO next fiscal
Indian Bank may come out with a follow-on public offer (FPO) next fiscal if market conditions improve, a top official said.
"We do not require capital immediately...we may go in for FPO in the next fiscal (2013-14)," the state-owned bank's Chairman and Managing Director T M Bhasin told PTI.
The board has already given approval for equity dilution to the extent of 10%, he said.At present, the government holds 80% stake in the Chennai-headquartered bank.
"We do not require capital immediately...we may go in for FPO in the next fiscal (2013-14)," the state-owned bank's Chairman and Managing Director T M Bhasin told PTI.
The board has already given approval for equity dilution to the extent of 10%, he said.At present, the government holds 80% stake in the Chennai-headquartered bank.
