Indian Bank Ltd to issue 4.75 crore equity shares

The Indian Bank Ltd had earlier announced about taking up of a proposal to raise further capital funds by the Bank with the Board for approval.

The Board has, in the meeting held on March 18, 2017, accorded approval to the Bank to raise capital by issue of 4.75 crore equity shares of face value of Rs.10/- each through Follow-on Issue / Rights Issue / Private Placement / QIP / Preferential Issue, subject to necessary approval from Reserve Bank of India, Government of India, shareholders of the Bank and other regulatory authorities, at appropriate time.

Shares of INDIAN BANK was last trading in BSE at Rs.283.2 as compared to the previous close of Rs. 278. The total number of shares traded during the day was 226573 in over 1183 trades.

The stock hit an intraday high of Rs. 285.05 and intraday low of 276. The net turnover during the day was Rs. 63448216.

Source : Equity Bulls

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