Share exchange ratio for merger remains unchanged, says Indian Bank

Indian Bank has said that there is no change in the share exchange ratio notified by the Bank on March 5, 2010 for the amalgamation of Allahabad Bank into the Bank, even after the expert committee constituted to consider the objections of the minority shareholders on share exchange ratio submitted its report. 

The Board of Directors on March 5 approved fair equity share exchange ratio at 115 equity shares of Rs 10 each of Indian Bank for every 1000 shares of Rs 10 each of Allahabad Bank. Allahabad Bank has also informed the exchanges that the share exchange ratio remain