Syndicate Bank raises Rs 930 cr via Basel-III compliant bonds

Syndicate Bank today said it has raised Rs 930 crore by issuing Basel III compliant bonds.

“In respect of 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 retain the total amount of Rs 930 crore and alloted on pro rate basis,” it said in a regulatory filing.

Syndicate Bank has invited bids for issue size of Rs 500 crore with 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 percent, from their previous close on the BSE.