Corporate News 28-Nov-19
Indian Overseas Bank allots 344.37 crore equity shares to GoI
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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