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Strategies & Market Trends : India Coffee House

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To: Mohan Marette who wrote (3971)	4/1/1999 3:26:00 PM
From: Mohan Marette	Read Replies (1) of 12475

IPO News India- Times Bank files (Prospectus) with SEBI timesbank.com Times Bank files prospectus with Sebi FE Investor Bureau -------------------------------------------------------------------------------- New Delhi, Mar 31: Times Bank has filed the prospectus with Sebi for its public issue of Rs 52.5 crore. This is the first bank IPO which is charging a premium as low as Rs 5. The other private sector banks like IDBI Bank, J&K Bank, South Indian Bank, UTI Bank and City Union have all charged high premiums compared with that of Times Bank. While J&K Bank charged a premium as high as Rs 28, City Union Bank priced its issue at Rs 35. SI Bank offered its shares at a premium of Rs 22, UTI Bank Rs 11. IDBI Bank's low premium of Rs 8 evoked a lukewarm response as compared with the oversubscription of other banking IPOs. This is mainly due to the declining investor interest in banking IPOs. In fact, investors have lost several crores in these bank IPOs over the last few years. Other private banks like UTI Bank, J&K Bank, City Union and SI Bank are yet to give an exit opportunity to investors as shares of all these banks currently trade below their respective offer price.

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