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IOB gets Rs. 1,054 crore capital infusion

Corporate Reporter

CHENNAI: Indian Overseas Bank has announced the allotment of 7.39 crore equity shares of Rs.10 each at a premium of Rs.132.53 per share at an issue price of Rs.142.53 per equity share aggregating Rs.1,054 crore to the Union Government on preferential basis. Consequent to this, the Government's holding in the bank has increased to 65.87 per cent from 61.23 per cent, says a release.

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