Indian Overseas Bank shareholders approve issue of shares to GOI

The Extraordinary General Meeting of Indian Overseas Bank was held as scheduled on 28th March 2018 at Chennai. The shareholders of the Bank have approved by way of Special Resolution the issue of up to 211,33,56,491 equity shares of the face value of Rs.10/- each for cash at an issue price of Rs. 23.03 per equity share (including premium of Rs. 13.03 per Equity Share) aggregating up to Rs. 4867.06 crore as determined by the Board in accordance with Regulation 76 (1) of SEBI ICDR Regulations on preferential basis to Government of India (President of India) (GOI).

Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.17.25 as compared to the previous close of Rs. 17.75. The total number of shares traded during the day was 293221 in over 564 trades.

The stock hit an intraday high of Rs. 18.3 and intraday low of 17. The net turnover during the day was Rs. 5202719.

Source : Equity Bulls

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