Comments
State-owned Central Bank of India proposes to raise an estimated ₹540 crore by selling stake on preferential basis to Life Insurance Corporation. The board approved raising additional capital by issuance and allotment of up to 7.10 crore equity shares of face value of ₹10 each to LIC on preferential basis, Central Bank of India said in a BSE filing. On Friday, the shares of the bank closed 5.21 per cent lower at ₹76.45 apiece, on the BSE. At this rate, the stake proposed to be sold by Central Bank will fetch it ₹543 crore.
LIC currently holds 7.34 crore shares, or 5.44 per cent stake, in Central Bank of India.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.