Central Bank of India allots 31441088 shares to LIC

The Capital Raising Committee of the Board of Directors of Central Bank of India at their meeting held on March 31, 2016 has allotted 3,14,41,088 equity shares to Life Insurance Corporation of India [11 (LIC LIFE FUND)] subsequent to passing of the Special resolution by shareholders at their meeting held on March 30, 2016 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. 52.66 per Equity Share determined in accordance with Regulation 76 of SEBI ICDR Regulations aggregating to Rs. 165,56,87,694.08 (Rupees One Hundred Sixty Five Crore, Fifty Six Lac, Eighty Seven Thousand, Six Hundred Ninety Four and Paisa Eight only).

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.74.05 as compared to the previous close of Rs. 74.85. The total number of shares traded during the day was 62267 in over 240 trades.

The stock hit an intraday high of Rs. 74.7 and intraday low of 73.6. The net turnover during the day was Rs. 4614848.

Source : Equity Bulls

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