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Friday, June 02, 2006

Indian Bank IPO likely in 2007

Chennai-based Indian Bank is likely to hit the capital market with an intial public offer, IPO next year that may dilute government stake in the bank by 25%, reports The Economic Times.

The bank planned to come out with an IPO by the beginning of 2007.

The issue is expected to bring down government stake in Indian Bank to 75% from 100% at present.

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