Bank of Baroda preferential issue of shares to LIC

Bank of Baroda (BOB) Share holders have approved the bank to raise funds through preferential issue. BOB has informed Bombay Stock Exchange (BSE) that the Bank has allotted 1,95,77,304 equity shares at Rs. 840.10 cumulatively to Rs. 1644,68,93,090.40 to Life Insurance Corporation (LIC) of India on preferential basis.
In 2011, the government infused Rs 2,461 crore in the bank. BoB posted 20.7 % rise in net profit at Rs 1,289.85 cr in the 3rd quarter of the current fiscal on the back of better growth in its core income

Stock Name: Bank of Baroda
BSE Script code: 532134
Last Traded Price: Rs 793.65 on EOD March30th2012

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