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| The bank expects to tap the market before this December-end. Post-issue, the Central Government's equity in BoM is expected to come down by about 25-27 per cent to 75-73 per cent. The public issue is likely to be of Rs 10 each for cash at a premium of about Rs 14. |
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| Last year all the eight independent directors on the board had opposed the bank's move to tap the capital market with an IPO at a par. |
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| The directors "" Gyan Prakash, B M Bhandari, K S Oberoi, S S Desai, A K Pandit, S K Vashisht, G D Sharma, VR Utagi "" took the stand that it would be better to consolidate the balance sheet further and then go in for a premium public offering. |
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| Net Profit of the Bank as of 31.03.2003 was up by 53 per cent to Rs. 222.02 crore as against Rs. 145.41 crore in the previous financial year. |
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| It's total business crossed the figure of Rs 32,000 crore recording a growth of 15.67% over the previous year. |
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| BoM has set a target to cross business level of around Rs 40,000 crore in 2003-04. |
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| The bank plans to open 38 new branches at strategic business centers and install 256 ATMs. |
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