State-owned Indian Overseas Bank on Monday said its board will meet next week to issue preference shares to the government for Rs 4,100 crore capital infusion.
A meeting of the board of directors for the issue of equity share capital would be held on Monday, May 17, 2021, to issue and allot shares to the government on a preferential basis for the capital infusion of Rs 4,100 crore, Indian Overseas Bank said in a regulatory filing.
The bank said it has received the capital on March 31, 2021.
Shares of the bank closed flat at Rs 15.85 apiece on BSE.
