Central Bank of India allots Equity Shares to LIC on preferential basis

The Capital Raising Committee of the Board of Directors of Central Bank of India at their meeting held on August 01, 2014 has allotted 7,10,75,753 equity shares to Life Insurance Corporation of India subsequent to passing of the Special resolution by shareholders at their meeting held on July 15, 2014 to accord consent to the Capital Raising Committee/Board of the Bank to create, offer, issue and allot abovesaid shares to Life Insurance Corporation of India of the face value of Rs. 10/- per equity share at a price of Rs. 81.83 per Equity Share determined in accordance with Regulation 76 of SEBI ICDR Regulations aggregating to Rs. 581,61,28,867.99.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.69.2 as compared to the previous close of Rs. 70.4. The total number of shares traded during the day was 392631 in over 4978 trades.

The stock hit an intraday high of Rs. 72 and intraday low of 68.6. The net turnover during the day was Rs. 27502648.

Source : Equity Bulls

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