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Business News/ Industry / Banking/  Central Bank of India board okays 3,353 crore fundraising via preferential equity to govt
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Central Bank of India board okays ₹3,353 crore fundraising via preferential equity to govt

The bank said its board has approved raising of equity capital by issuance, allotment of up to 158,38,45,063 shares aggregating to ₹3,353 crore to the govt on a preferential basis
  • The bank said the board approval is subject to the nod of the shareholders, RBI, SEBI and other statutory authorities
  • Shares of Central Bank of India closed 1.70% higher at ₹17.95 apiece on the BSE. (Photo: Pradeep Gaur/Mint)Premium
    Shares of Central Bank of India closed 1.70% higher at 17.95 apiece on the BSE. (Photo: Pradeep Gaur/Mint)

    NEW DELHI : Central Bank of India on Tuesday said its board of directors has approved to allot shares on a preferential basis to the government to raise up to 3,353 crore.

    The capital raising committee of the board of directors at its meeting on Tuesday considered and approved raising of equity capital by issuance and allotment of up to 158,38,45,063 equity shares aggregating to 3,353 crore to the Government of India on a preferential basis, it said in a regulatory filing.

    The bank said the board approval is subject to the nod of the shareholders, Reserve Bank of India, Securities and Exchange Board of India and other statutory authorities.

    Shares of Central Bank of India closed 1.70% higher at 17.95 apiece on the BSE.

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    Published: 29 Oct 2019, 07:58 PM IST
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