Syndicate Bank's second public issue

Syndicate Bank will issue five crore equity shares in a second public issue, slated to open in July, to meet stricter capital adequacy norms under Basel II, and expand business, the bank said here on Friday. The bank recently also raised Rs 500 crore via a bond issue.

The public will get a shot at 157.5 lakh shares, while the rest will go to institutional investors (225 lakh), high net worth individuals (67.5 lakh) and the bank's staff (50 lakh). Syndicate Bank has 1.6 customers using its 1,798 branches.

A book building process will decide the premium on each share, which has face value Rs 10.

The book running lead managers for the issue are SBI Capital Markets Ltd, Enam Financial Consultants, J M Morgan Stanley, and SSKI Corporate Finance, the bank said.