Oriental Bank of Commerce allots shares to Government of India on preferential basis

Oriental Bank of Commerce has allotted 80,87,561 equity shares of Rs. 10/- each for cash at Issue price (including premium) of Rs. 185.47 aggregating Rs. 1,49,99,99,939/- (Rupees One Hundred Forty Nine Crores Ninety Nine Lacs Ninety Nine Thousand Nine Hundred Thirty Nine Only) to Government of India on preferential basis. As a result, the Government of India holding has increased from 58% to 59.13%.

Shares of Oriental Bank of Commerce was last trading BSE at Rs.209.40, down by Rs.5.90 or 2.74%. The stock hit an intraday high of Rs.214.45 and intraday low of Rs.208.55.

The total traded quantity was 2.36 lakh shares as compared to 2 week average of 2.96 lakh shares.

Source : Equity Bulls

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