Syndicate Bank raises Rs 194 crore

Syndicate Bank has now announced with reference to the earlier announcement dated June 22, 2009 about the issue of Unsecured, IPDI, Non-convertible Taxable Tier I Bonds to the tune of Rs 150.00 Crore with unlimited Green Shoe Option, that the issue opened for subscription on June 22, 2009 closed June 25, 2009. The issue, which was issued at a coupon rate of 8.90% p.a. payable annually, has been fully subscribed. The Bank mobilized Rs 194.00 Crore.

The stock was trading at Rs.69.70, down by Rs.1.30 or 1.83%. The stock hit an intraday high of Rs.71.95 and low of Rs.69.25.

The total traded quantity was 138505 compared to 2 week average of 179574.

Source : Equity Bulls

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