Canara Bank approves Preferential Issue of Equity Shares to the Government of India at Rs. 340.72

The Managing Director & CEO of Canara Bank, as per the authority delegated by the Board, has approved to conduct the Extraordinary General Meeting of the Bank on September 29, 2015 for obtaining the consent of the shareholders to make preferential allotment of equity shares of the Bank to the Government of India (GOI).

The Relevant Date for the issue is August 28, 2015 - (in terms of SEBI-ICDR Regulations).

The Bank has fixed a minimum Issue Price at Rs. 340.72 calculated in accordance with the Regulation 76 (1) of SEBI-ICDR Regulations for the proposed issue of equity shares to the Government of India by way of Preferential Allotment;

Shares of CANARA BANK was last trading in BSE at Rs.268.35 as compared to the previous close of Rs. 285.85. The total number of shares traded during the day was 361408 in over 5658 trades.

The stock hit an intraday high of Rs. 284 and intraday low of 266.5. The net turnover during the day was Rs. 99137273.

Source : Equity Bulls

Keywords