Vijaya Bank to get Rs.368 crores from Government of India

The Meeting of Board of Directors of Vijaya Bank will be held on February 22, 2011, to consider preferential issue and allotment of equity shares, aggregating to an amount of Rs. 368 Crore to Government Of India and to decide on conduct of an Extra Ordinary General Meeting of the shareholders of the Bank to obtain the Shareholders' permission for the same.

The Bank has received a letter dated February 15, 2011 from the Government of India, conveying their approval to subscribe to additional Equity capital of the Bank aggregating to an amount of Rs. 368 Crore, on the terms and conditions mentioned therein.

The stock was trading at Rs.85.20, up by Rs.1.55 or 1.85%. The stock hit an intraday high of Rs.85.45 and low of Rs.83.55.

The total traded quantity was 2.33 lakhs compared to 2 week average of 4.49 lakhs.

Source : Equity Bulls

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