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Corporation Bank to raise Rs 507.99 crore via preferential issue

16 Sep 2016 Evaluate

Corporation Bank is planning to raise Rs 507.99 crore through preferential issue to government. In this regard, the bank’s shareholders gave approval at their meeting held on September 15, 2016.

The bank informed the BSE that the extraordinary general meeting of shareholders on Thursday approved a special resolution to issue 12,45,70,868 equity shares at an issue price of Rs 40.78 per share to the government on preferential basis.

Corporation Bank is a Mangalore-based mid-sized public sector bank which was established in 1906. Government of India is the majority shareholder holding 59.82% stake in the bank.

Corp. Bank-Amalgamat Share Price

22.60 0.00 (0.00%)
19-Mar-2020 18:01 View Price Chart
Peers
Company Name CMP
SBI 1024.00
PNB 107.35
Bank Of Baroda 277.70
Canara Bank 130.40
Union Bank Of India 174.95
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