The shareholders of Corporation Bank have approved a special resolution to issue equity shares on preferential basis to the Centre.
This will help the government infuse up to ₹507.99 crore of capital into the bank.
The bank informed the BSE that the extraordinary general meeting of shareholders on Thursday approved a special resolution to issue 12,45,70,868 equity shares at an issue price of ₹40.78 per share to the government on preferential basis.
On Thursday, the Corporation Bank scrip closed at ₹45.05, up 2.62 per cent, against the previous close of ₹43.90.