Syndicate Bank allots 2,86,64,284 Shares to LIC

Upon receipt of funds from LIC of India, Syndicate Bank has, on March 29, 2012, allotted 2,86,64,284 (Two Crore eighty six lakh sixty four thousand two hundred and eighty four only) equity shares of face value of Rs. 10/- each for cash at a premium of Rs. 104.15 (Rupees One hundred four and paise fifteen only) determined in accordance with Regulation 76 (4) of SEBI (ICDR) Regulations aggregating to Rs. 327,20,28,018.60 on preferential basis to various schemes of LIC of India.

The Syndicate Bank stock was trading at Rs.105, down by Rs.1.80 or 1.69%. The stock hit an intraday high of Rs.106.50 and low of Rs.103.75.

The total traded quantity was 0.47 lakhs compared to 2 week average of 0.63 lakhs.

Source : Equity Bulls

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