Vijaya Bank to consider conversion of PNCPS to equity shares

A meeting of the Board of Directors of Vijaya Bank will be held on January 17, 2014, inter alia, to consider conversion of existing 120 crore Perpetual Non Cumulative Preference Shares (PNCPS) of Rs. 10/- each into Equity shares of the Bank 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 January 06, 2014 from the Government of India, conveying their approval for conversion of existing 120 crore Perpetual Non Cumulative Preference Shares (PNCPS) of Rs. 10/- each into Equity shares, on the terms and conditions mentioned therein.

Shares of Vijaya Bank was last trading in BSE at Rs.39.20, down by Rs.0.45 or 1.13%. The stock hit an intraday high of Rs.40 and intraday low of Rs.39.

The total traded quantity was 1.47 lakh shares as compared to 2 week average of 1.95 lakh shares.

Source : Equity Bulls

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