IDBI Bank to consider preferential issue to Government of India

IDBI Bank Ltd has announced that after approval at the 6th AGM of the Bank to be held on July 22, 2010, the Board of Directors of the IDBI Bank Ltd. proposes to consider Preferential Issue of 259509110 equity shares of Rs. 10/- each at a price of Rs. 120.19 per share (comprising of Rs. 10/- face value and Rs. 110.19 share premium amount) aggregating to Rs. 3119.04 crore to Govt. of India at its meeting to be held on July 22, 2010.

The stock was trading at Rs.121.95, down by Rs.0.75 or 0.61%. The stock hit an intraday high of Rs.124.30 and low of Rs.121.10.

The total traded quantity was 720409 compared to 2 week average of 695689.

Source : Equity Bulls

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