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Syndicate Bank plans follow-on issue

NEW DELHI: Having taken the lead in introducing on-line loan application facility for education, SME and housing schemes, besides other purposes, Syndicate Bank on Wednesday said it plans to go in for a follow-on issue of eight crore shares. The public issue will help the bank dilute the government’s stake from 66 per cent to 55 per cent. It can be scaled down to 51 per cent, Srihari Bhat, bank’s General Manager for Delhi Region, told reporters here on Wednesday. — Special Correspondent

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