Government of India raises stake in Central Bank of India to 91.20%

The Capital Raising Committee of the Board of Directors Central Bank of India at its meeting held today i.e. 28.03.2019 has allotted 68,72,48,322 equity shares of the face value of Rs.10.00 each at the issue price of RS.37.25 per equity share including premium of Rs.27.25 per equity share determined as per SEBI ICDR Regulations, 2018 to President of India (Government of India) aggregating upto Rs.2560 Crore subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on 28.03.2019 and the approval of Government of India to increase the paid-up capital by way of preferential allotment of equity shares to Government of India to the extent of Rs.2560 Crore vide letter dated 26.02.2019.

With this allotment, shareholding of President of India (Government of India) has increased from 89.40% to 91.20%.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.34.7 as compared to the previous close of Rs. 32.05. The total number of shares traded during the day was 242349 in over 1383 trades.

The stock hit an intraday high of Rs. 36.05 and intraday low of 32.05. The net turnover during the day was Rs. 8275268.

Source : Equity Bulls

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