Central Bank of India allots 123806796 Equity Shares to President of India

The Capital Raising Committee of the Board of Directors of Central Bank of India at its meeting held on September 08, 2016 has allotted 12,38,06,796 equity shares of the face value of Rs. 10/- each to President of India (Government of India) at the issue price of Rs. 104.76 per equity share aggregating upto Rs. 1297/- crore (Rupees One Thousand Two Hundred Ninety Seven Crore only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on August 18, 2016 and the approval of Government of India under Section 3(2B)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to increase the paid-up capital vide letter dated September 07, 2016. With this allotment, shareholding of President of India (Government of India) has increased from 80.76% to 82.02%.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.106.5 as compared to the previous close of Rs. 105.8. The total number of shares traded during the day was 147410 in over 1177 trades.

The stock hit an intraday high of Rs. 107.75 and intraday low of 105.55. The net turnover during the day was Rs. 15701307.

Source : Equity Bulls

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