Central Bank of India approves allotment of 96,01,536 Equity Shares to President of India on preferential basis

The Capital Raising Committee of the Board of Directors of Central Bank of India at its meeting held today i.e. 18th August, 2017 has allotted 96,01,536 equity shares of the face value of Rs. 10/- each to President of India (Government of India) at the issue price of Rs. 104.15 per equity share aggregating upto Rs. 100/- crore (Rupees One Hundred Crore only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on 11th May, 2017 and the approval of Government of India under Section 3(2B)(c) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 to increase the paid-up capital vide letter No. F.No.7/38/2014-BOA dated 04.08.2017. With this allotment, shareholding of President of India (Government of India) has increased from 81.28% to 81.38%.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.74.3 as compared to the previous close of Rs. 72.45. The total number of shares traded during the day was 103262 in over 1047 trades.

The stock hit an intraday high of Rs. 75.2 and intraday low of 70.95. The net turnover during the day was Rs. 7581896.

Source : Equity Bulls

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