Central Bank of India to consider raising of Equity Capital by way of preferential allotment

A meeting of the Capital Raising Committee of the Board of Directors of Central Bank of India will be held on 25th July 2016 to consider and approve raising of additional equity capital upto Rs. 1297/- crore (Rupees One Thousand Two Hundred and ninety seven crore only) by issuance and allotment of equity shares of the face value of Rs 10/- each at such issue price including premium per equity share as may be determined as per SEBI (ICDR) Regulations, to President of India (Government of India) on preferential basis subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any). Capital Raising Committee of the Board of Directors may also decide to hold an Extra-Ordinary General Meeting (EGM) of shareholder on 18th August 2016 to consider and pass the necessary Special Resolution and may also fix 19th July 2016 as the Relevant Date for the purpose of determining the Issue Price as per SEBI (ICDR) Regulations, 2009.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.97.45 as compared to the previous close of Rs. 97.7. The total number of shares traded during the day was 87316 in over 487 trades.

The stock hit an intraday high of Rs. 99 and intraday low of 96.7. The net turnover during the day was Rs. 8539235.

Source : Equity Bulls

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