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Indian Overseas Bank allots 344.37 crore equity shares to GoI

Capital Market 

Under preferential allotment

The Committee of the Board of Indian Overseas Bank for issue of equity share capital at its meeting held on 28 November 2019 has issued and allotted 344,37,50,000 equity shares of Rs 10 each at an issue price of Rs 11.20 per share (including premium of Rs 1.20 per share) to Govt. of India by way of preferential allotment.

With this allotment, the Govt. of India's holding in the Bank has increased from 92.52% to 94.56%.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, November 28 2019. 14:16 IST