Syndicate Bank to raise Rs 150 crore through Unsecured, IPDI Non-Convertible, Tier I Bonds

Syndicate Bank has announced that the Bank will be raising Rs 150.00 Crore with Unspecified Green Shoe Option by way of private placement of 1500 Unsecured Innovative Perpetual Debt Instrument, Non-convertible Taxable Tier I Bonds of Face Value of Rs 10.00 Lakh. The Issue has opened on June 22, 2009 and closes on June 27, 2009. The deemed date of Allotment is June 29, 2009.

The stock closed the day at Rs.72, up by Rs.0.60 or 0.84%. The stock hit an intraday high of Rs.73.50 and low of Rs.71.55.

The total traded quantity was 160011 compared to 2 week average of 183420.

Source : Equity Bulls

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