Syndicate Bank issue cleared

MUMBAI, SEPT 21: Market regulator Securities and Exchange Board of India SEBI has cleared Syndicate Bank8217;s proposal for a Rs 125 crore public issue at par, along with two other rights offers amounting to Rs 194.63 crore during the week ended September 10. SEBI has also cleared an equity sale offer of Vintage Cards and Creations Ltd at a consideration of Rs 225 per share amounting to Rs 28.36 crore, the regulator said in a statement here today.

The rights issues of International Bestfoods Ltd IBL and Henkel SPIC India Ltd HSIL priced at Rs 195 and Rs 40 to 48 flexible respectively were cleared by the regulator. The issue size of IBL was Rs 46.97 crore.

The rights issue of HSIL was allowed in the range Rs 147.66 crore and Rs 177.20 crore, it said.

During the week, SEBI received a draft offer document of Electrolux Kelvinator Ltd for a rights equity issue at par amounting to Rs 68.09 crore, it added.