The Hindu : Vijaya Bank's second public offer

Online edition of India's National Newspaper
Wednesday, Sep 24, 2003

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Vijaya Bank's second public offer

By Our Staff Correspondent

MANGALORE SEPT. 23. Vijaya Bank has announced its second equity offering of 10 crore equity shares of Rs. 10 each for cash at a premium of Rs. 14 per share.

Announcing the public offer of at a press conference here today, M. S. Kapur, Chairman and Managing Director, said the bank would utilise the equity proceeds for its regular business activities which was on line with the estimated growth in the risk weighted assets. The equity capital would increase to Rs. 433.52 crores from Rs. 333.52 crores as a result of the offer.

The issue will remain open from October 9 to 17.After this issue, Government holding will come down to 53.87 per cent from 70.02 per cent. Total deposits grew by 15.93 per cent to Rs. 17,020 crores as on March 31 2002 and advances by 27.50 per cent to Rs. 8,184 crores from Rs. 6,417 crores. The net non-performing assets have come down to 2.61 per cent of its net advances vis-a-vis the last fiscal which stood at 6.02 per cent Mr. Kapur added.

Mr. Kapur said Vijaya Housing Corporation, the bank's housing subsidiary, will be soon merged with the bank but there was no proposal of merger of the bank's functions with any other organisation or vice versa.

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