IPO for Vijaya Bank housing arm
By Our Banking Bureau | 01 Feb 2002
1
Mumbai:
Vijaya Bank is
likely to take its housing finance subsidiary, Vijaya Bank Housing
Finance, to an initial public offer in its bid to part-divest its
stake in the firm.
"However, we have not fixed a timeframe and are waiting for
the market to stabilise," Vijaya Bank chairman R
Gopalakrishnan said.
The bank, in the meantime, has not received any feelers from prospective bidders for part-stake in the housing finance arm, he said. Earlier, the bank had decided to sell a part of its stake in the housing finance arm because its non-performing assets were piling up.
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