ING Vysya Bank to raise funds through issue of 3 crore shares

The Board of Directors of ING Vysya Bank Ltd at its meeting held on May 17, 2013, has approved a fund raising proposal by the Bank through further issue of capital of up to 30,000,000 equity shares or securities equivalent thereto, subject to a maximum of INR 2000 crores, by way of preferential Issue to the promoters of the Bank and qualified institutions placement to qualified institutional buyers, subject to the approval of members at the ensuing Annual General Meeting and all the requisite approvals required from regulatory authorities and provisions of applicable law.

Shares of ING Vysya Bank Ltd was last trading in BSE at Rs.621.15, up by Rs.1.80 or 0.29%. The stock hit an intraday high of Rs.623.90 and low of Rs.606.50.

The total traded quantity was 0.19 lakhs compared to 2 week average of 0.88 lakhs.

Source : Equity Bulls

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