Central Bank of India to raise Rs.2406 crore

The Board of Directors of Central Bank of India at its meeting held on January 30, 2013, has considered and approved raising of additional equity capital upto the extent of Rs. 2406/- crore (Rupees Two Thousand Four Hundred and Six Crore only) by way of issue equity shares of face value of Rs. 10/- each at such price as may be decided as per SEBI (ICDR) Regulations, 2009 in favour of Government of India on preferential basis, subject to approval of Reserve Bank of India, shareholders and other statutory authorities (if any).

An Extra-Ordinary General Meeting of shareholders will be held on March 18, 2013, to consider and pass the necessary Special Resolution.

The Central Bank of India stock was trading at Rs.83, down by Rs.2.05 or 2.41%. The stock hit an intraday high of Rs.85.50 and low of Rs.82.55.

The total traded quantity was 4.41 lakhs compared to 2 week average of 1.56 lakhs.

Source : Equity Bulls

Keywords