Central Bank of India to consider raising Rs323 crore from govt1 min read . Updated: 30 Dec 2017, 11:26 PM IST
Central Bank of India's board will consider raising additional equity capital of Rs323 crore by issuance and allotment of equity share of face value of Rs10 each
New Delhi: Central Bank of India on Saturday said its board will meet on 3 January to consider a proposal of raising additional equity capital of Rs323 crore from the government.
The capital raising committee of the board of director will consider and approve raising additional equity capital of Rs323 crore by issuance and allotment of equity share of face value of Rs10 each at such issue price including premium to President of India on 3 January 2018, the bank said in BSE filing.
According to the statement, the committee will also decided to hold an extraordinary general meeting of the shareholders on 2 February 2018 to consider and pass necessary resolution and may also fix 3 January 2018 as relevant date for the purpose of determining the issue price.
The government had on 24 October unveiled a Rs2.11 trillion two-year roadmap for strengthening NPA-hit public sector banks, which includes re-capitalisation bonds, budgetary support and equity dilution.