RBI approves Centurion Bank of Punjab share allotment on preferential basis

Centurion Bank of Punjab Ltd has announced that Reserve Bank of India vide its letter dated January 04, 2007 has conveyed its approval at this stage, for the allotment of 7,50,00,000 equity shares on a preferential basis to India Advantage Value Fund V through its Trustee, The Western India Trustee and Executor Company Ltd and acting through its Investment Manager ICICI Venture Funds Management Company Ltd.

The issue price of Rs 24.54 has been arrived at in accordance with the relevant pricing guidelines contained in the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines 2000 and was approved by the shareholders at their Extraordinary General Meeting held on September 30, 2006.

Source : Equity Bulls

Keywords