IDBI Bank receives Rs.3119.04 crore from GoI for Preferential Issue

Mumbai: IDBI Bank has received Rs.3119.04 crore from the Government of India towards consideration for preferential issue of equity shares to GoI at a price of Rs.120.19 per share in terms of the approval accorded by the Shareholders at the sixth AGM of the Bank which is subject to allotment of the shares in terms of the prescribed statutory and regulatory formalities.

The stock was trading at Rs.117.15, down by Rs.3 or 2.50%. The stock hit an intraday high of Rs.121.35 and low of Rs.116.70.

The total traded quantity was 7.05 lakhs compared to 2 week average of 6.72 lakhs.

Source : Equity Bulls

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