Financial Daily from THE HINDU group of publications
Friday, Apr 07, 2006
Financial Daily from THE HINDU group of publications Friday, Apr 07, 2006 |
|
|
|
|
|
|
|
Money & Banking
-
IPOs Markets - IPOs Our Bureau
MR K.C. CHAKRABARTY
Chennai , April 6 , Indian Bank may go in for an initial public offer (IPO) in January or February 2007, Mr K.C. Chakrabarty, Chairman and Managing Director, Indian Bank, has said. The Cabinet approval for writing off its accumulated losses of Rs 3,830 crore against its capital base of Rs 4,574 crore was announced on Wednesday. Mr Chakrabarty said he had not yet received the official communication. Asked to comment about the approval to convert a portion of its remaining equity capital of Rs 744 crore into preference capital, Mr Chakrabarty said that this could happen only after the passing of banking laws amendment bill in the monsoon session of Parliament. Mr Chakrabarty said that the IPO would happen in the bank's Centenary year, which commences on August 15, 2006. He said that the IPO would be timely since some of the pre-IPO costs would be absorbed by the centenary celebrations budget.
More Stories on : IPOs | IPOs | Public Sector Banks
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|