Mangalore, Sept 23: The Vijaya Bank today announced its second equity issue of ten crore equity shares of Rs 10 each for cash at a premium of Rs 14 per share aggregating Rs 240 crore during October this year. The issue will open to the public from October 9 to 17 this year and will be announced here, M S Kapoor, chairman and managing director of the bank told reporters here today.

The public offering will increase the bank's equity capital to Rs 433.52 crore from Rs 333.52 crore as on march 31, this year, he said. After this issue, the holding of the Government of India will come down to 53.87 per cent from the present 70.02 per cent, he added.
The bank will utilise the equity proceeds for its regular business activities, which is in-line with the estimated growth in risk weighed assets, he said.

Bureau Report