State Bank of India approves allotment of 21,07,27,400 Shares

The Committee of Directors of State Bank of India for Capital Raising considered and accorded approval on January 20, 2017 by circulation to allot 21,07,27,400 (Twenty one crore seven lac twenty seven thousand four hundred only) equity shares, ranking pari-passu with the existing equity shares of the Bank in all respects, including payment of dividend, if any, on preferential basis to Government of India, at an issue price of Rs.269.59 (Rupees two hundred sixty nine and paise fifty nine only) per share of face value of Rupee.1/- each, including a premium of Rs.268.59 (Rupees two hundred sixty eight and paise fifty nine only) per share for a consideration of Rs. 5680,99,99,766.00 (Rupees Five thousand six hundred eighty crore ninety nine lac ninety nine thousand seven hundred sixty six only).

Shares of STATE BANK OF INDIA was last trading in BSE at Rs.251 as compared to the previous close of Rs. 258.3. The total number of shares traded during the day was 1536608 in over 11162 trades.

The stock hit an intraday high of Rs. 260.55 and intraday low of 250.4. The net turnover during the day was Rs. 391681500.

Source : Equity Bulls

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