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Syndicate Bank today said it has raised Rs 930 crore by issuing Basel-III compliant bonds.
“In respect of an invitation pertaining to series III, potential investors have placed bids for Rs 1,800 crore (1.95 times) and the bank decided to exercise the green-shoe option and retained the total amount of Rs 930 crore allotted on pro rate basis,” it said in a regulatory filing.
Syndicate Bank had invited bids for an issue size of Rs 500 crore with a green-shoe option of Rs 430 crore limiting the aggregate issue size to Rs 930 crore. The issue closed on July 14.
Shares of Syndicate Bank were trading at Rs 80.75 apiece, up 0.31 per cent, from their previous close on the BSE.
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