Central Bank of India approves allotment of 1,71,44,954 Equity Shares to LIC on preferential basis

The Capital Raising Committee of the Board of Directors of Central Bank of India at its meeting held on December 05, 2016 has allotted 1,71,44,954 equity shares of the face value of Rs. 10/- each to Life Insurance Corporation of India (LIC) at the issue price of Rs. 91.45 per equity share aggregating to Rs. 156,79,06,043.30 (Rupees One Hundred Fifty Six Crore Seventy Nine Lakh Six Thousand Forty Three and Paisa Thirty Only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on November 29, 2016 and the approval of Government of India vide letter dated December 01, 2016. With this allotment, shareholding of LIC has gone up from 13.05% to 13.83%. Consequently, shareholding of President of India (Government of India) has reduced to 81.28% from 82.02%.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.86.45 as compared to the previous close of Rs. 84.6. The total number of shares traded during the day was 62347 in over 757 trades.

The stock hit an intraday high of Rs. 86.75 and intraday low of 84.9. The net turnover during the day was Rs. 5372921.

Source : Equity Bulls

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