Chennai, Apr 2 (PTI): The government's stake in the public sector Indian Overseas Bank has increased from 61.23 per cent to 65.87 per cent consequent to capital infusion of Rs 1,054 crore into the Bank.
At a recent meeting, IOB allotted 7,39,49,343 equity shares of Rs 10 each at an issue price of Rs 142.53 per equity share totalling Rs 1,054 crore to Government of India on preferential basis, the Bank said in a statement.
On March 22, 2011,bank shareholders at their Extraordinary General Meeting, had given their approval for allotment of equity shares to Government of India, the statement added.
IOB stock price
On November 24, 2015, Indian Overseas Bank closed at Rs 31.75, up Rs 1.10, or 3.59 percent. The 52-week high of the share was Rs 64.75 and the 52-week low was Rs 29.55.
The latest book value of the company is Rs 112.80 per share. At current value, the price-to-book value of the company was 0.28.
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