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|
Company |
Indian Overseas Bank
|
Market Price |
Not listed |
Lead manager |
SBI Capital Markets
|
Listing At |
BSE, NSE, Madras
|
Opening/Closing |
September 25/September 29 |
Founder |
M. Ct. M. Chidambaram Chettiar
|
Associate Co. |
I O B Properties Pte Ltd, Pandyan Grama Bank, Dhenkanal Gramaya Bank, Puri Gramya Bank
|
Managing Director |
R V Shastri
|
Post-issue Stake |
Government of India - 75%
|
Issue |
|
Size |
Rs 1.11 billion
|
Price |
Rs 10
|
On Application |
Rs 10
|
On Allotment |
— |
Objective |
Meet future capital adequacy requirements
|
Business |
|
Product |
Banking
|
Location |
Multi-locational |
Project cost |
Rs 1.11 billion
|
Funded by |
Equity
|
Kensource projections |
(2001) |
Sales |
Rs 30.2 billion |
Profit |
Rs 483 million
|
Earnings per share |
Rs 1.09 |
Forward P/E |
9 |
Post-issue equity |
Rs 4.45 billion
|
Return on equity |
11% |
Comment |
Nose-diving profits, high NPAs, low returns.
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Rating *
|
D
|
* A=Subscribe & Hold; B = Subscribe & Watch; C=Subscribe & Sell; D = Avoid; E = Buy post-listing
By Kensource Information Services Pvt Ltd.
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IPO Analysis
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