Vijaya Bank holds EGM for passage of Government of India’s shareholding to 74.06%

Vijaya Bank held an Extraordinary General Meeting on Wednesday, the 19th February 2014, at its Head Office in Bangalore.

Shareholders, in the Meeting, accorded approval for conversion of existing Perpetual Non-Cumulative Preference Shares to the tune of Rs.1200 Crore into 30,46,45,849 Equity Shares at a conversion rate of Rs.39.39 per share in favour of Government of India on preferential basis.

This will increase the Government of India’s shareholding to 74.06% from existing 59.80%. Shri V. Kannan, CMD, Vijaya Bank is seen along with Executive Directors and other Directors during the meeting.