The bank's chairman and managing director KV Krishnamurthy said,``This is the first such issue from a public sector bank during the current year and will be the last in the millennium.''

Krishmamurthy told The Financial Express that roadshows for the issue would be kicked off across the country starting from Udupi (where the bank is headquartered) and Mangalore on October 6. The second week of October would cover Bangalore, Mumbai and Delhi, he said. He said,``No reservation has been made for categories like financial institutions, non-resident Indians and other institutions.'' However, 10 per cent of the shares would be reserved for the employees of the bank. Each employee of thebank would get a ``confirmed allotment'' of 300 shares each at a face value of Rs 10 per share, he added.