Centurion Bank of Punjab to issue shares at Rs.40.75

Centurion Bank of Punjab Ltd has announced that the Bid Closing Date pursuant to the proposed placement of equity shares of the Bank under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines, 2000 (the "SEBI Guidelines") (the "Issue") is September 20, 2007.

Further the Bank has informed that, the Bank will issue 122,699,000 equity shares of Re 1/- each at an Issue Price of Rs 40.75 per equity share aggregating to an Issue size of Rs 499.99 Crores. The Issue Price is above the floor price of Rs 40.34 per share calculated in accordance with clause XIII-A.3 of the SEBI Guidelines.

Kotak Mahindra Capital, Deutsche Equities India Pvt Ltd and SSKI Corporate Finance Pvt Ltd acted as the Global Joint Coordinators for this Issue.

The stock was trading at Rs.43.50, up by Rs.0.40 or 0.93%. The stock hit an intraday high of Rs.44.15 and low of Rs.43.05.

The total traded quantity was 1338162 compared to 2 week average of 2657702.

Source : Equity Bulls

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