Central Bank of India allots 71504945 Equity Shares to President of India on preferential basis

The Capital Raising Committee of the Board of Directors of Central Bank of India at their meeting held on May 12, 2016 has allotted 7,15,04,945 equity shares to Government of India subsequent to passing of the Special resolution by shareholders at Extra-ordinary General Meeting held on May 12, 2016 to accord consent to the Capital Raising Committee/Board of the Bank to create, offer, issue and allot above said shares of the face value of Rs. 10/- per equity share to President of India (Government of India) on preferential basis, for cash at an issue price of Rs. 74.82 per Equity Share determined in accordance with Regulation 76(1) of SEBI ICDR Regulations aggregating to Rs. 535.00 (Rupees Five Hundred Thirty Five Crore only).

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.78.75 as compared to the previous close of Rs. 77.85. The total number of shares traded during the day was 7816 in over 142 trades.

The stock hit an intraday high of Rs. 79.1 and intraday low of 78.25. The net turnover during the day was Rs. 615314.

Source : Equity Bulls

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