Indian Overseas Bank allots 203,82,11,029 shares

Consequent to the passing of Special Resolution by shareholders at the Extraordinary General Meeting of the Bank held today ie. on 28th March 2018 and on receipt of necessary approvals, the Committee of the Board for Issue of Equity Share Capital at its meeting held on 28.03.2018 has allotted 203,82,11,029 equity shares of Rs. 10 each at an issue price of Rs. 23.03 per equity share (including premium of Rs. 13.03 per equity share) to Government of India (President of India) by way of preferential allotment under SEBI (Issue of Capital & Disclosure Requirements) Regulations, 2009.With this allotment, GOI holding has increased to 89.74%.

The paid up capital of the Bank now stands increased to Rs. 4890.77 crore consisting of 489,07,69,975 equity shares of Rs. 10/- each.

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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