The bank will seeks shareholders nod for this at its Annual General Meeting (AGM) to be held on June 26, says report.
Syndicate Bank is planning to raise up to Rs. 1,700 crore from public issue, including Qualified Institutional Placement or QIP.
The bank will seeks shareholders nod for this at its Annual General Meeting (AGM) to be held on June 26, says report.
Report says that the fund would be raised to an extent that government holding not falling below 51 per cent of the total capital.
Syndicate Bank ended at Rs. 66.7, up by Rs. 1.15 or 1.75% from its previous closing of Rs. 65.55 on the BSE.
The scrip opened at Rs. 65.6 and touched a high and low of Rs. 67.35 and Rs. 65 respectively. A total of 3308536(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5325.99 crore.
The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 109.9 on 11-Jun-2015 and a 52 week low of Rs. 49.4 on 17-Feb-2016. Last one week high and low of the scrip stood at Rs. 67.35 and Rs. 63.25 respectively.
The promoters holding in the company stood at 65.17 % while Institutions and Non-Institutions held 21.27 % and 13.56 % respectively.
The stock traded below its 200 DMA.
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