Central Bank of India to raise Equity Capital by way of preferential allotment

The Board of Directors of Central Bank of India considered and approved raising of additional equity capital by issuance and allotment of, upto 7,10,75,753 equity shares of the face value of Rs. 10/- each at such price as may be determined as per SEBI (ICDR) Regulations, to Life Insurance Corporation of India on preferential basis, subject to approval of Government of India, Reserve Bank of India, shareholders and other statutory authorities (if any). Board of Directors has also fixed June 13, 2014 as the Relevant Date for the purpose of determining the Issue Price as per SEBI (ICDR) Regulations, 2009.

An Extra-Ordinary General Meeting of shareholders will be held on July 15, 2014 to consider and pass the necessary Special Resolution.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.80.65 as compared to the previous close of Rs. 81. The total number of shares traded during the day was 626869 in over 4945 trades.

The stock hit an intraday high of Rs. 83.4 and intraday low of 79.05. The net turnover during the day was Rs. 51384967.

Source : Equity Bulls

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