<p>Home finance arm of government-run Repco Bank on Thursday said that it will divest a little over 25 per cent of its stake through a public issue, which opens on March 13, and hopes to raise around Rs 270 crore.<br /><br /></p>.<p>The promoters have fixed a price-band in the range of Rs 165-172 per equity share for the initial public offer and the proceeds will be used for business development in the housing finance industry.<br /><br />The Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.<br /><br />The company will offer 15,720,262 equity shares or 25.29 per cent with a face value of Rs 10 each. The issue will close on March 15. <br /></p>
<p>Home finance arm of government-run Repco Bank on Thursday said that it will divest a little over 25 per cent of its stake through a public issue, which opens on March 13, and hopes to raise around Rs 270 crore.<br /><br /></p>.<p>The promoters have fixed a price-band in the range of Rs 165-172 per equity share for the initial public offer and the proceeds will be used for business development in the housing finance industry.<br /><br />The Repco Home Finance is promoted by the Repatriates Co-operative Finance and Development Bank (Repco Bank), which was set up in April 2000 to extend banking services to rehabilitate the repatriates from Sri Lanka, Myanmar, Vietnam and other countries.<br /><br />The company will offer 15,720,262 equity shares or 25.29 per cent with a face value of Rs 10 each. The issue will close on March 15. <br /></p>