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MUMBAI, July 24: State Bank of India plans to kick off road shows for the Resurgent India Bond (RIB) on July 26 at Dubai. Over the next ten days, seven teams of the bank will criss-cross the globe hawking the five-year instrument to NRIs and overseas corporate bodies. Meanwhile, the CEO of State Bank's New York operations is meeting the officials of Securities Exchange Council on Saturday to seek approval for selling the instrument in the US.
In the first leg, one SBI team -- led by chairman MS Verma, deputy managing directors V Janakirman and DP Roy and SBI Caps managing director AR Barwe --will hold road shows at Dubai and Abu Dhabi. Another team will visit Baharin, Kuwait, Singapore, Hong Kong, Bangkok and Jakarta -- the hub of NRIs. Parallel roadshows will be held in London, Frankfurt and Paris.
"We are yet to chalk out the schedule for road shows. About seven teams will hawk the issue across the globe barring those places where local laws do not permit pre-issue campaign," said SBI Caps managing MUMBAI, July 24: State Bank of India plans to kick off road shows for the Resurgent India Bond (RIB) on July 26 at Dubai. Over the next ten days, seven teams of the bank will criss-cross the globe hawking the five-year instrument to NRIs and overseas corporate bodies. Meanwhile, the CEO of State Bank's New York operations is meeting the officials of Securities Exchange Council on Saturday to seek approval for selling the instrument in the US.
In the first leg, one SBI team -- led by chairman MS Verma, deputy managing directors V Janakirman and DP Roy and SBI Caps managing director AR Barwe --will hold road shows at Dubai and Abu Dhabi. Another team will visit Baharin, Kuwait, Singapore, Hong Kong, Bangkok and Jakarta -- the hub of NRIs. Parallel roadshows will be held in London, Frankfurt and Paris.
"We are yet to chalk out the schedule for road shows. About seven teams will hawk the issue across the globe barring those places where local laws do not permit pre-issue campaign," said SBI Caps managingdirector AR Barwe. For instance, the SBI Caps team will visit South Africa to meet the NRIs but will not be able to hold any road show because of local regulations. "We are expecting clearance from the regulatory authority soon. Our teams will visit New York, Washington, Chicago, Los Angeles, San Fransisco, San Jose, Pittesburg and Canada," Barwe said.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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