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Bank of India updates on preferential issue to Government of India and LIC

Posted On: 2017-03-18 11:27:37

Bank of India has convened an Extra Ordinary General Meeting of the shareholders on Thursday, 30th March 2017 for approval on issuance of fresh Equity Share Capital by way of Preferential Issue to Government of India and Life Insurance Corporation of India.

The Bank has received a communication from Government of India to infuse capital funds of Rs.1500 crore subject to fulfillment of certain conditions. As the Bank may not be able to fulfill these conditions immediately, the Capital Raising Committee of the Bank decided not to issue equity shares to Government of India for the time being.

Shares of BANK OF INDIA was last trading in BSE at Rs.126.65 as compared to the previous close of Rs. 128.4. The total number of shares traded during the day was 281487 in over 1357 trades.

The stock hit an intraday high of Rs. 129.1 and intraday low of 126.05. The net turnover during the day was Rs. 35804648.

Source: Equity Bulls

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