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Good response to IOB's public issue

CHENNAI: The second public issue of 10 crore equity shares of Rs. 10 each at a premium of Rs. 14 per share evoked good response, especially from retail investors and the issue got oversubscribed 6.23 times. Addressing presspersons on Wednesday, S. C. Gupta, Chairman and Managing Director of the bank said the bank received subscriptions to the extent of Rs. 1,476 crores against the issue size including premium of Rs. 240 crores, while the initial public offer in September 2000 for Rs. 111.20 crores received a total subscription of Rs. 28.28 crores.

The extent of response could be judged by the fact that the total number of applications received stood at 4.67 lakhs against 1.49 lakhs in the previous public issue, the CMD said.

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