ING Vysya Bank to issue 13315155 shares

ING Vysya Bank Ltd has announced that subsequent to the approval accorded by the Shareholders of the Bank under Section 81(1A) and other applicable provisions of the Companies Act, 1956, at their Annual General Meeting held on September 04, 2009, authorizing the issuance of upto 133,15,155 Equity shares, the duly authorised Committee of the Board of Directors of the Bank has, at its meeting held on September 07, 2009 decided to make an issuance of upto 133,15,155 Equity shares of face value Rs. 10 each in the Bank, to make Qualified Institutions Placement with Qualified Institutional Buyers (QIBs) in terms of Chapter VIII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2009, as amended and for this purpose, to open the issue. The Committee has also approved of a Preliminary Placement Document in respect of the Equity shares proposed to be issue as aforesaid.

The stock was trading at Rs.249.50, up by Rs.1.75 or 0.71%. The stock hit an intraday high of Rs.256.25 and low of Rs.248.

The total traded quantity was 49842 compared to 2 week average of 129498.

Source : Equity Bulls

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