Date:02/03/2007 URL: http://www.thehindubusinessline.com/2007/03/02/stories/2007030206191500.htm

Back Indian Bank debuts at premium

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Mumbai March 1 The stock of Indian Bank made its debut on a volatile note on the exchanges; on the BSE at a 15.38 per cent premium at Rs 105 against its issue price of Rs 91. The stock reached a high of Rs 105 and a low of Rs 77 before closing at Rs 98.30.

On the NSE, the company made its debut at a 3.18 per cent premium at Rs 93.90. The stock closed at Rs 98.35 after reaching a high of Rs 100.25 and a low of Rs 75.

The total traded quantity of shares was 3,08,10,511 and 5,48,02,922 on the BSE and NSE respectively.

The Indian Bank IPO had received strong response from investors, especially foreign institutional investors (FIIs), when it hit the capital market in the first week of February and was subscribed by over 32 times. Through the issue, the bank mopped up around Rs 782 crore at the issue price of Rs 91 per share.