Central Bank of India Ltd approves raising of Equity Capital by way of Preferential Allotment

The Capital Raising Committee of the Board of Directors of Central Bank of India at their meeting held on March 30, 2017 considered and approved raising of equity capital by conversion of entire IPDI capital of Rs. 583.00 crore (5,830 IPDI of Rs. 10.00 lac each) held by Government of India, into equity shares to be issued and allotted to Government of India on Preferential Basis, at such conversion price as may be determined as per SEBI ICDR Regulations subject to approval of Government of India, Reserve Bank of India, Shareholders and other statutory authorities (if any) including Securities and Exchange Board of India and Stock Exchanges as may be required.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.104.9 as compared to the previous close of Rs. 103.5. The total number of shares traded during the day was 3821703 in over 1190 trades.

The stock hit an intraday high of Rs. 105.75 and intraday low of 102.5. The net turnover during the day was Rs. 396624983.

Source : Equity Bulls

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