Government invests Rs 508 cr in Corporation Bank

corporation-bankGovernment of India invested Rs 508 cr into Corporation Bank, raising its stake from 67.2% to 70.76%.

The investment came in the form of fresh purchase of equity at a price of Rs 40.78 per share.

The shares are currently trading at Rs 44.70. They rose by 3% today on the NSE.

Corporation Bank is a public sector banking company headquartered in Mangalore with pan India presence with about 2200 branches.