Oriental Bank of Commerce convened an extraordinary general meeting of the shareholders of bank on December 3 at 10 am at PHD Chamber of Commerce and Industry for approval of the preferential allotment of equity shares in favour of Government of India.
The shareholders of the bank at the general meeting unanimously approved the resolution for issue and allotment of 80,87,561 equity shares of Rs 10 each at Rs 185.47 per share aggregating to Rs 1,49,99,99,939 to Government of India on preferential basis resulting in increase in the government’s holding from 58 per cent to 59.13 per cent.