The bank plans to offer one equity share for every five shares held. The price of the issue will not be exceeding Rs 100 per share. Earlier, the bank had mentioned that it will be issuing shares at Rs 100 per share. Presently, the bank has an equity of 12 crore shares.
In addition to this the bank also received an approval to raise upto Rs 500 crore through the Qualified Institutional Buyers (QIB). The Mangalore-based private bank, to facilitate this, has increased its share capital to Rs 200 crore from the current Rs 150 crore.
The bank's capital adequacy ratio stands at 12.17 per cent as of March 31, 2008 compared to 11.03 per cent in the year ago period.
