Indian Overseas Bank fixes Rs. 41.37 as the price for preferential issue to GOI

A meeting of the Committee of Directors of Indian Overseas Bank was held on August 25, 2015 for fixation of the issue price. The Committee of Directors approved that the issue price for allotment of equity shares under preferential issue to Government of Indio is fixed at Rs.41.37 per equity Shares (including premium of Rs.31.37) in compliance of Regulation 76(1) of SEBI (ICDR) Regulations and number of shares to be allotted to Government of India is 48,56,17,597 only aggregating to Rs. 2008,99,99,987.89 including share premium.

Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.35.2 as compared to the previous close of Rs. 35.65. The total number of shares traded during the day was 526388 in over 2634 trades.

The stock hit an intraday high of Rs. 36.3 and intraday low of 33.75. The net turnover during the day was Rs. 18472861.

Source : Equity Bulls

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