At meeting held on 28 December 2022
The Board of IDBI Bank at its meeting held on 28 December 2022 has approved to reduce the authorized share capital of the Bank from Rs. 25000 crore divided into 2500,00,00,000 equity shares of Rs. 10 each to Rs. 21000 crore divided into 2100,00,00,000 equity shares of Rs. 10 each by cancelling shares, which at the date of passing of the resolution have not been issued, taken or agreed to be taken by any person and diminish the amount of its authorised share capital by an amount of Rs. 4000 crore representing 400,00,00,000 equity shares of Rs. 10 each and consequently amend clause V of the Memorandum of Association and Article 3 of the Articles of Association of the Bank, subject to the approval of the Shareholders of the Bank by way of postal ballot, to comply with Section 12(1)(i) of the Banking Regulation Act, 1949.Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
