Syndicate Bank to raise Rs. 1500 crores

The Board of Directors of Syndicate Bank at its meeting held on May 07, 2014 approved to raise equity capital of Rs. 1,500 Crore (Rupees One thousand five hundred crore only) including premium to be decided as per the guidelines by way of Qualified Institutional Placement (Domestic & Foreign financial institutions)/Rights Issue /Follow on Public /or any other mode approved by Reserve Bank of India / Government of India, at an appropriate time.

The Board also approved to raise Basel III Complaint Tier II Capital requirements upto Rs. 1,150.00 Crore (Rupees One thousand one hundred and fifty Crore only), as per eligibility at an appropriate time.

Shares of SYNDICATE BANK was last trading in BSE at Rs.99.2 as compared to the previous close of Rs. 106.85. The total number of shares traded during the day was 949621 in over 14451 trades.

The stock hit an intraday high of Rs. 107.95 and intraday low of 98.7. The net turnover during the day was Rs. 97911349.

Source : Equity Bulls

Keywords