Bank of India to get capital from Government of India to the tune of Rs. 2455 Crores

The Government of India (GOI) vide its letter dated August 19, 2015 has infonmed its decision to infuse capital funds to the tune of Rs. 2455 Crore (Two Thousand Four Hundred and Fifty Five crore) in the Bank by way of preferential allotment of equity shares.

The Board of Directors have decided to convene an Extra-Ordinary General Meeting (EGM) of the shareholders of the Bank on September 28, 2015, to get the shareholders' approval for the proposed preferential Issue of equity shares to Government of India, by way of Special Resolution.

Shares of BANK OF INDIA was last trading in BSE at Rs.141.5 as compared to the previous close of Rs. 142.75. The total number of shares traded during the day was 814329 in over 7172 trades.

The stock hit an intraday high of Rs. 148.05 and intraday low of 138.15. The net turnover during the day was Rs. 117000311.

Source : Equity Bulls

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