Coimbatore, Feb. 22: 

Indian Overseas Bank's committee of directors for preferential issue of shares, on Tuesday, fixed Rs 97.82 (including premium of Rs 87.82) as the price for the allotment of equity shares on preferential basis to the Government of India and the LIC.

While the Government will be allotted up to 17,12,32,876 shares for its capital contribution of up to Rs 1,675 crore, the LIC would be allotted up to 3,09,37,467 shares being five per cent of pre-issue capital for its capital contribution of up to Rs 302.63 crore.

Dunlop India Ltd has announced the suspension of work at its Ambattur, Chennai, factory with immediate effect due to labour unrest.

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