Consequent to the passing of Special Resolution by shareholders through Postal Ballot of Indian Overseas Bank held on 26.02.2020 and on receipt of necessary approvals, the Committee of the Board for Issue of Equity Share Capital at its
meeting held today i.e., on 27.02.2020 has issued and allotted 385,15,90,106 equity shares of Rs. 10 each at an issue price of Rs. 11.32 per equity share (including premium of Rs. 1.32 per equity share) to Government of India (President of India) by way of preferential allotment. With this allotment, GOI holding has increased from 94.56% to 95.84%.
Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.8.73 as compared to the previous close of Rs. 8.81. The total number of shares traded during the day was 77811 in over 100 trades.
The stock hit an intraday high of Rs. 8.82 and intraday low of 8.7. The net turnover during the day was Rs. 679786.