Oriental Bank of Commerce has informed that the Board of Directors of the Bank at its meeting held on February 11, 2016, has also approved raising of equity capital of the Bank by way of preferential allotment of equity shares in favour of Government of India for an amount up to Rs 1000 crore and Life Insurance Corporation of India (LIC) for an amount up to Rs 500 crore on in terms of SEBI (ICDR) Regulations 2009 / other applicable laws & guidelines and subject to requisite approvals.
The above information is a part of company’s filings submitted to BSE.