Syndicate Bank invited bids for issue size of Rs500 crore with green shoe option of Rs430 crore limiting the aggregate issue size to Rs930 croreNew Delhi: Syndicate Bank Ltd on Friday said it has raised Rs.930 crore by issuing Basel III compliant bonds. Syndicate Bank invited bids for issue size of Rs.500 crore with green shoe option of Rs.430 crore limiting the aggregate issue size to Rs.930 crore. Shares of Syndicate Bank were trading at Rs.80.75 apiece, up 0.31%, from their previous close on BSE Ltd. “In respect of invitation pertaining to series III, potential investors have placed bids for Rs.1,800 crore (1.95 times) and the bank decided to exercise the green shoe option and retain the total amount of Rs.930 crore and alloted on pro rate basis,” it said in a regulatory filing. The issue closed on 14 July.

Source: Mint July 15, 2016 17:15 UTC