Mumbai: New generation private sector lender Centurion Bank of Punjab (CBP) today said it will raise Rs500 crore through a qualified institutional placement of equity shares.
Shareholders at their annual general meeting on 3 August gave a go ahead to the banks plan to raise money, CBP informed the Bombay Stock Exchange.
The bank also got shareholders’ approval to the proposed Employee Stock Option Plan under which it will issue 10 crore additional stock options to its staff.
The re-appointment of Kamlesh Vidamsy and S K Jain as directors of the bank was also approved by the sharholders, CBP said.
Centurion Bank of Punjab was formed after a merger of Centurion Bank and Bank of Punjab, and has a nationwide network of 279 branches and 408 ATMs.