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Bank of India issues shares to government, LIC

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Bank of India issues shares to government, LIC

Bank ofIndia allotted shares to the government and througha preferential issue.

The bank said May 6 that it issued 101,482,527 equity sharesto the government of India at 113.32 rupees per share. It also allotted 16million shares to LIC at 96.03 rupees per share.

As of May 5, US$1 wasequivalent to 66.56 Indian rupees.