The objects of the Issue are as follows:
* To augment our long-term capital requirements in order to
successfully implement our growth plans;
* To increase our paid-up equity capital in compliance with the
licensing directives of RBI, which stipulate that the paid up capital
of the Bank (which currently stands at 2,000 million) must be raised to
Rs. 3,000 million within three years of commencement of business and
that the Bank shall maintain minimum capital adequacy ratio of 10% on a
continuous basis from the commencement of business; and
* To diversify our shareholding pattern.
The net proceeds of the Issue after deducting underwriting and
management fees, selling commissions and all other Issue related
expenses are estimated at Rs. [*] million. The net proceeds of the
Issue shall be used entirely to meet the objects of the Issue.
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