Indian Overseas Bank allots 246,54,23,932 equity shares

Consequent to the passing of Special Resolution by shareholders through virtual EGM of Indian Overseas Bank held on 12.05.2021 and on receipt of necessary approvals, the Board, for Issue of Equity Share Capital at its meeting held today i.e., on 02.06.2021 has issued and allotted 246,54,23,932 equity shares of Rs.10 each at an issue price of RS.16.63per equity share (including premium of Rs.6.63per equity share) to Government of India (President of India) by way of preferential allotment. With this allotment, GOI holding has increased from 95.84% to 96.38%.

Shares of INDIAN OVERSEAS BANK was last trading in BSE at Rs.16.6 as compared to the previous close of Rs. 16.85. The total number of shares traded during the day was 360531 in over 848 trades.

The stock hit an intraday high of Rs. 16.9 and intraday low of 16.45. The net turnover during the day was Rs. 5998154.

Source : Equity Bulls

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