Public sector Indian Bank plans to launch a wholly-owned subsidiary with a capital infusion of Rs 10 crore next year. The subsidiary will focus on back-office processing, collection, sales, and marketing. The bank reported a 52% increase in net profits in the October-December 2023 quarter
The Nifty PSU Bank index jumped 28 per cent in the year 2023 so far (as of December 20) while the benchmark Nifty 50 gained about 17 per cent in the same period.
Indian Bank s board has set the floor price for the QIP at Rs 414.44 a share, a discount of around 5.5 percent from the December 12 closing price of Rs 437.20 on NSE
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