Syndicate Bank Plans To Raise Rs. 4300 Crore

Syndicate Bank said it is planning to raise up to Rs 4,300 crore by way of different instruments, including selling shares, to meet business requirements and comply with global capital adequacy norms. The bank said it is also planning to raise Basel-III complaint additional tier-I bonds up to Rs. 1,000 crore and tier-II bonds up to Rs 1,600 crore.

Syndicate Bank ended at Rs. 73.4, up by Rs. 0.6 or 0.82% from its previous closing of Rs. 72.8 on the BSE. The scrip opened at Rs. 73.35 and touched a high and low of Rs. 73.9 and Rs. 72.5 respectively. A total of 3623046(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 5860.99 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 107 on 18-Aug-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. 73.9 and Rs. 70.5 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 above its 200 DMA.

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