The clean up will be followed by the bank making a 49 per cent preferential-cum-rights issue to foreign institutions in the next two weeks, to raise Rs 350-400 crore.
The issue is likely to be made at around the current market price. The price of the GTB scrip closed today at Rs 20.25 on the Bombay Stock Exchange.
The GTB board will meet tomorrow in Hyderabad to announce its results for 2002-2003. It will also take into account the results for the first quarter of 2003-2004.
The bank had earlier taken Reserve Bank of India permission to postpone its results for the last year till September 30.
