Corporation Bank is likely to raise Rs 203.99 crore from allotment of 47,85,137 equity shares to the Government of India on a preferential basis. The bank has allotted equity shares of Rs 10 each at a premium of Rs 416.32 a share to the government on a preferential basis.
After this transaction, issued and subscribed capital of the bank gets raised to 15,29,14,391 equity shares and the holding of the government in the bank gets increased from 58.52% to 59.82%.