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|
|
| Company |
Indian Overseas Bank
|
| Market Price |
Not listed |
| Lead manager |
SBI Capital Markets
|
| Listing At |
BSE, NSE, Madras
|
| Opening/Closing |
September 25/September 29 |
| Founder |
M. Ct. M. Chidambaram Chettiar
|
| Associate Co. |
I O B Properties Pte Ltd, Pandyan Grama Bank, Dhenkanal Gramaya Bank, Puri Gramya Bank
|
| Managing Director |
R V Shastri
|
| Post-issue Stake |
Government of India - 75%
|
| Issue |
|
| Size |
Rs 1.11 billion
|
| Price |
Rs 10
|
| On Application |
Rs 10
|
| On Allotment |
— |
| Objective |
Meet future capital adequacy requirements
|
| Business |
|
| Product |
Banking
|
| Location |
Multi-locational |
| Project cost |
Rs 1.11 billion
|
| Funded by |
Equity
|
| Kensource projections |
(2001) |
| Sales |
Rs 30.2 billion |
| Profit |
Rs 483 million
|
| Earnings per share |
Rs 1.09 |
| Forward P/E |
9 |
| Post-issue equity |
Rs 4.45 billion
|
| Return on equity |
11% |
| Comment |
Nose-diving profits, high NPAs, low returns.
|
| Rating *
|
D
|
* 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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