Fixes issue price of Rs 340.72 for allotment of 2,77,94,083 shares
Canara Bank announced the following in reference to the preferential allotment of equity shares of the Bank to the Government of India:- The Relevant Date is 28 August 2015 - (in terms of SEBI-ICDR Regulations);
- The Bank has fixed a minimum Issue Price at Rs. 340.72 calculated in accordance with the Regulation 76 (1) of SEBI-ICDR Regulations for the proposed issue of equity shares to the Government of India by way of Preferential Allotment;
- Based on the Issue Price of Rs. 340.72, number of shares to be issued and allotted to Government of India works out to 2,77,94,083.
The Extraordinary General Meeting of the Bank will be held on 29 September 2015 for obtaining the consent of the shareholders to make preferential allotment of equity shares of the Bank to the Government of India (GOI).
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