Central Bank of India to allot 71504945 shares

The Board of Directors of Central Bank of India at its meeting held on April 13, 2016, has considered and approved raising of additional equity capital by issuance and allotment of, upto 7,15,04,945 equity shares of the face value of Rs. 10/- each at the issue price of Rs. 74.82 per equity share determined as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 aggregating to Rs. 535/- crore (Rupees Five Hundred Thirty Five Crore only), to Government of India on preferential basis, subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any).

The Board of Directors has also decided to hold an Extra-Ordinary General Meeting (EGM) of shareholders on May 12, 2016 to consider and pass the necessary Special Resolution and fixed April 12, 2016 as the Relevant Date for the purpose of determining the Issue Price as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.76.65 as compared to the previous close of Rs. 75.75. The total number of shares traded during the day was 37658 in over 439 trades.

The stock hit an intraday high of Rs. 77.7 and intraday low of 75.9. The net turnover during the day was Rs. 2888879.

Source : Equity Bulls

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