Moneycontrol PRO
UPCOMING EVENT:Attend Traders Carnival Live. 3 days 12 sessions at Rs.1599/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsBusiness

Oriental Bank of Commerce allots 13.89 cr shares to govt following capital infusion

Earlier in January, the government had infused capital in OBC, following which RBI removed the lender from its prompt corrective action (PCA) framework.

March 27, 2019 / 05:07 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Public sector Oriental Bank of Commerce (OBC) on Wednesday said it has allotted 13.89 crore equity shares to the government following capital infusion of Rs 1,186 crore into the bank.

"Pursuant to the approval of the board of directors, the bank has allotted 13,89,89,804 equity shares of Rs 10 each at an issue price (including premium) of Rs 85.33 per equity share aggregating up to Rs 1,186 crore to Government of India on preferential basis on March 26, 2019," OBC said in a regulatory filing.

Earlier in January, the government had infused capital in OBC, following which RBI removed the lender from its prompt corrective action (PCA) framework.
PTI
first published: Mar 27, 2019 04:59 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark