Syndicate Bank approves proposal to raise Rs. 250 crore

The Board of Directors of Syndicate Bank in its meeting held on Wednesday, 12th September 2018, approved the proposal to raise Capital up to Rs.250 Crore by way of issue of Equity Shares in one or more tranches to its employees under Employee Stock Purchase Scheme ('ESPS') and to convene an Extraordinary General Meeting of Shareholders of the Bank scheduled to be held on Monday, 29th October 2018 at Manipal to seek their approval for the same. The 'Compensation Committee of the Board' will decide all the modalities of ESPS Scheme.

Shares of SYNDICATE BANK was last trading in BSE at Rs.36.55 as compared to the previous close of Rs. 36.6. The total number of shares traded during the day was 219151 in over 786 trades.

The stock hit an intraday high of Rs. 37.05 and intraday low of 35.9. The net turnover during the day was Rs. 7980815.

Source : Equity Bulls

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