Bhopal: Executive director of Syndicate Bank, S Krishnan had a town hall meeting with its staff members of Bhopal Region at Hotel Courtyard Marriot, Bhopal. The meeting is a part of series of employee town hall meetings across the country to educate them about the latest developments in banking, sensitize the employees about the corporate goals and objective and to motivate them for quality and ethical business growth.
He said bank propose to raise equity upto Rs. 500 crores by issuing stock to its staff members under the EPSO scheme. The bank will issue 300 million shares to employees to raise the capital. The bank will approach SEBI soon for its consent besides obtaining others approvals,” said Krishnan.
The move of employee share allotment is with a twin objective of retaining talent while raising capital. The Government/Public share holding is presently in the ratio of 72/28 and the government may be willing to shed 2% of its ratio.
