|
|
|
| Company |
Vijaya Bank
|
| Market Price |
Not listed |
| Lead manager |
SBI Capital Markets
|
| Listing At |
Bangalore, BSE, NSE
|
| Opening/Closing |
November 27/December 4 |
| Promoters |
Government of India
|
| Associate Co. |
VIBANK Housing Finance Limited, Visveshwaraya Grameena Bank
|
| Managing Director |
S Gopalakrishnan
|
| Post-issue Stake |
72.16%
|
| 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.
|
| Business |
|
| Present |
Banking and allied activities
|
| Proposed Project
|
To augment the capital base of the bank to meet future capital adequacy requirement, to augment long term resources of the bank.
|
| Location |
Bangalore
|
| Project cost |
Rs 1 billion
|
| Funded by |
Equity |
| Kensource projections |
(2001) |
| Sales |
Rs 19.56 billion
|
| Profit |
Rs 1.17 billion
|
| Earnings per share |
Rs 3.06 |
| Forward P/E |
3 |
| Post-issue equity |
Rs 3.59 billion
|
| 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?
|
| Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
Money
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