The issue price for the preferential allotment would not be less than Rs 195.59 per share of the face value of Rs 2 each, the bank said in a statement.
Shares of the bank closed at Rs 172.40 per unit, down 2.71 per cent on the BSE.
The bank would issue 6.44 crore fresh shares to be alloted on preferential basis to the government of India.
Currently, the government owns 56.26 per cent in the bank. Post allotment, the holding would go up to 57.53 per cent.
General meeting for taking shareholders nod for preferential allotment of shares will be held on March 26.
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