Breaking News

You are here » Indian-Commodity  :  Top News  :  Corporation Bank to raise Rs 507.99 crore via preferential issue

16-Sep2016

Corporation Bank to raise Rs 507.99 crore via preferential issue

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.


Related News

View all news

Cotton futures edge higher on MCX

Cotton futures edged higher on MCX amid rising demand from traders and stockists at the spot market. Besides, erratic rains and reports of pest attack from major producing belts also added support on cotton......

Coriander futures trade higher on limited arrivals

Coriander futures traded higher on NCDEX as participants enlarged their holdings amid rising demand at the spot market. Further, limited arrivals from major producing regions also influenced coriander......

Nickel futures decline on subdued demand

Nickel futures declined on MCX as participants cut down their bets amid subdued demand from alloy-makers and other consuming industries at the spot market. The contract for August delivery was trading......

Top News

View all news

Mahindra Finance raises Rs 100 crore via NCDs

Mahindra & Mahindra Financial Services' (Mahindra Finance) board has approved the allotment of Secured Redeemable Non-Convertible Debentures (NCDs) of the face value of Rs 10,00,000 each, at premium,......

SCI delivers 'Nanga Parbat' LPG carrier to its buyer

Shipping Corporation of India (SCI) has given physical delivery of its one LPG carrier 'Nanga Parbat', to its buyer on 'as is where is' basis.The company, had given physical delivery of its one passenger......

Eicher Motors, VECV developing new range of electric vehicles for public transportation

Eicher Motors and VE Commercial Vehicles (VECV), a joint venture of Volvo Group India is developing a new line of products, including a complete range of electric vehicles for public transportation. The......