State-run Central Bank of India (CBI) will debut on the exchanges on 21 August 2007.
The bank had priced its initial public offer (IPO) at Rs 102, at the top end of the Rs 85 to Rs 102 price band.
At Rs 102, the IPO has been priced at 8.29 times its FY 2007 EPS of Rs 12.30 on post-IPO equity of Rs 404.14 crore.
Central Bank of India IPO had ended on 27 July 2007 with 62.07 times subscription. The qualified institutional buyers (QIBs) category was subscribed 89.11 times, the non institutional investors category was subscribed 69.56 times, the retail investors category was subscribed 92.35 times and the employees category was subscribed 0.95 times.
Post issue, the shareholding of the Union government in the bank has come down to 80.20%.
The gross NPA to gross advances ratio of CBI stood at 4.81% and the net NPA at 1.70% of the net advances as at end March 2007. These are relatively higher compared with industry peers.
CBI has pan-India presence with branches in 27 states and three Union Territories. At dnd March 2007, the bank had 3,194 branches, the third largest network of branches in India.
CBI reported net profit of Rs 498.01 crore on net total income of Rs 2950.07 crore in the year ended 31 March 2007 (FY 2007). Profit for FY 2007 includes recovery/write back of provisions of Rs 163.33 crore. However, a repeat of such recovery every year seems difficult.
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