Indian Bank has allotted 11,72,65,954 equity shares of face value of Rs 10 each at an Issue Price of Rs 216.09 (including premium of Rs 206.09) per share aggregating to Rs 2534 crore to Government of India, Promoter of the Bank, on preferential basis.
Indian Bank was established as a part of the Swadeshi movement. The Bank provides a wide spectrum of banking products and services.