Comments
Indian Bank will allot 1.54 crore equity shares of face value ₹10 each at an issue price of ₹181.31 (including premium of ₹171.31) a share, aggregating to ₹280 crore to the Government on preferential basis.
The issue is pursuant to the decision of the Centre to infuse further capital, says a release from the bank.
Consequently, the holding of the Centre will increase to 39.43 crore equity shares, representing 82.10 per cent of the bank’s paid-up capital from the present 81.51 per cent.
Following this preferential issue, the bank’s capital adequacy under Basel III would be 13.32 per cent against the current 13.06 per cent.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.