Indian Bank Ltd seeks EGM nod for raising upto Rs. 7000 crores

An Extra-ordinary General Meeting (EGM) of the shareholders of Indian Bank Ltd will be held on Wednesday, the January 31, 2018 at 10.30 a.m. at IMAGE Auditorium, MRC Nagar, Raja Annamalaipuram, Chennai - 600028 to get their approval for raising equity capital by the Bank upto Rs.7,000 Crore (including premium) in one or more tranches in the current or subsequent financial years based on the requirement through FPO/ Private Placement / QIP / Rights Issue / Preferential issue / Institutional Placement Programme to be decided by the Bank, under Section 3 (2B) (c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 / 1980.

Shares of INDIAN BANK was last trading in BSE at Rs.381 as compared to the previous close of Rs. 380.6. The total number of shares traded during the day was 45054 in over 760 trades.

The stock hit an intraday high of Rs. 384.8 and intraday low of 377. The net turnover during the day was Rs. 17153886.

Source : Equity Bulls

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