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Company |
Vijaya Bank
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Market Price |
Not listed |
Lead manager |
SBI Capital Markets
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Listing At |
Bangalore, BSE, NSE
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Opening/Closing |
November 27/December 4 |
Promoters |
Government of India
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Associate Co. |
VIBANK Housing Finance Limited, Visveshwaraya Grameena Bank
|
Managing Director |
S Gopalakrishnan
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Post-issue Stake |
72.16%
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Issue |
|
Size |
Rs 1 billion
|
Price |
Rs 10 |
On Application |
Rs 10 |
On Allotment |
— |
Objective |
To augment the capital base of the bank to meet future capital adequacy requirements, to augment the long term resources of the bank.
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Business |
|
Present |
Banking and allied activities
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Proposed Project
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To augment the capital base of the bank to meet future capital adequacy requirement, to augment long term resources of the bank.
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Location |
Bangalore
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Project cost |
Rs 1 billion
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Funded by |
Equity |
Kensource projections |
(2001) |
Sales |
Rs 19.56 billion
|
Profit |
Rs 1.17 billion
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Earnings per share |
Rs 3.06 |
Forward P/E |
3 |
Post-issue equity |
Rs 3.59 billion
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Return on net worth |
20% |
Comment |
The market is unlikely to favour a government-controlled, slow moving public sector bank. Aren't there too many of them listed already?
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Rating *
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D
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* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
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