Indian IPO

All details about Hot Indian Primary Market.

Monday, January 16, 2006

Andhra Bank FPO opened on January 16 for subscription.

Andhra Bank entered the capital market on January 16 with a follow-on public offering, FPO, of 8.5 crore equity shares of face value of Rs 10 each.

Its price band has been fixed at Rs 82-90 per share. The issue will close on January 20.

The government's shareholding would come down from the current 62.5% to 51.55% following the public offering.

SBI Capital Markets and Citigroup Global Markets India are the book running lead managers to the issue. MCS is the registrar to the issue.

The equity shares of the company are proposed to be listed on the BSE, NSE, and HSE.

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