Rs.1,199 crore capital infused into IOB

Chennai, Dec 19 : The central government increased its holding in the city based Indian Overseas Bank (IOB) by just over five percent to 79.01 percent, infusing additional capital amounting to Rs.1,199.99 crore, the bank said Thursday.

A statement issued by IOB here said the Indian government has infused Rs.1,199.99 crore as additional equity capital and accordingly, necessary shares have been allotted.

The banks raised the additional capital by issuing over 22.97 crore shares of Rs.10 each at a premium of Rs.42.23 per share.

The IOB got the shareholders approval at its extraordinary general meeting held here Monday.

--IANS (Posted on 19-12-2013)

business-india-news headlines

DLF leases 3 million sq ft office space in 2013-14

Cairn India posts 18 percent rise in Q4 profit

Paris Motor Show woes Indian visitors

Toonz forays into artificial intelligence toys, films

Sensex, Nifty at new highs; capital goods sector gains

Sensex hits record high for third straight day

Reebok India launches 'live with fire' campaign

KBC winner Sunmeet Kaur to launch boutique in the capital

'Goa sells maximum beer in India'

RIL raises $550 mn from Japanese banks

OPEC daily basket price closes lower

Rupee slips below 61 against the dollar

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014


Your e-mail:

Your Full Name:

Type verification image:
verification image, type it in the box


Back to Top