Vijaya Bank to consider preferential issue of Rs. 250 crore to Government of India

A meeting of the Board of Directors of Vijaya Bank will be held on November 11, 2013, to consider preferential issue and allotment of equity shares, aggregating to an amount of Rs. 250 Crore to Government Of India and to decide on conduct of an Extra Ordinary General Meeting of the shareholders of the Bank to obtain the Shareholders permission for the same.

The Bank has received a letter dated October 22, 2013 from the Government of India, conveying their approval to subscribe to additional Equity capital of the Bank aggregating to an amount of Rs. 250 Crore, on the terms and conditions mentioned therein.

Shares of Vijaya Bank was last trading in BSE at Rs.42, down by Rs.1.35 or 3.11%. The stock hit an intraday high of Rs.44.20 and low of Rs.41.80.

The total traded quantity was 3.20 lakhs as compared to 2 week average of 3.47 lakhs.

Source : Equity Bulls

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