April 11, 2011 11:24 pm | Updated 11:24 pm IST - chennai
Indian Overseas Bank has announced the allotment of 7.39 crore equity shares of Rs.10 each at a premium of Rs.132.53 per share that is, at an issue price of Rs.142.53 per equity share aggregating to Rs.1,054 crore to Government of India on preferential basis.
Consequent upon this, the Union Government’s holding in the Bank has increased to 65.87 per cent from 61.23 per cent.
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