Central Bank of India board approves preferential issue to Government of India

The Capital Raising Committee of the Board of Directors of Central Bank of India at its meeting held today i.e. 12th April,2021 considered and approved raising of equity capital by issuance and allotment of equity shares to President of India (Government of India) on preferential basis, subject to approval as may be required, of Shareholders, Reserve Bank of India, Stock Exchanges & other statutory authorities (if any).

The Capital Raising Committee also decided to hold an Extra-Ordinary General Meeting (EGM) of shareholders on Tuesday, 18th May, 2021 to consider and pass the necessary Special Resolution and fixed 16th April, 2021 as the Relevant Date for the purpose of determining the Issue Price as per SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Shares of CENTRAL BANK OF INDIA was last trading in BSE at Rs.16.85 as compared to the previous close of Rs. 18.15. The total number of shares traded during the day was 2919263 in over 5395 trades.

The stock hit an intraday high of Rs. 18.9 and intraday low of 16.6. The net turnover during the day was Rs. 50495887.

Source : Equity Bulls

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