Central Bank of India to allot shares to LIC and Government of India

The Preferential Allotment Committee of the Board of Directors of Central Bank of India at its meeting held on March 31, 2012 has approved allotment of 64,009,090 Equity Shares of face value of Rs. 10 each, issued at a price of Rs. 105.61 per equity share (including a premium of Rs. 95.61 per equity share) to President of India and allotment of 25,500,000 equity shares of face value of Rs. 10 each, issued at a price of Rs. 105.61 per equity share (including a premium of Rs. 95.61 per equity share) to Life insurance Corporation of India.

The Central Bank of India stock was trading at Rs.101.40, up by Rs.1.20 or 1.20%. The stock hit an intraday high of Rs.102.40 and low of Rs.100.40.

The total traded quantity was 0.33 lakhs compared to 2 week average of 0.92 lakhs.

Source : Equity Bulls

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