Central Bank of India to raise Rs 626 cr

Our Bureau | | Updated on: Nov 27, 2017

Central Bank of India has said that the Capital Raising Committee of its board of directors had approved raising of additional equity capital by issuing up to 8,28,90,000 equity shares (face value Rs 10 each) at Rs 75.55 per equity share aggregating over Rs 626.23 crore to Life Insurance Corporation of India, on a preferential basis.

The issue is subject to the approval of Government of India, RBI, shareholders and other statutory authorities, Central Bank in a communiqué to the BSE said.

Published on December 08, 2014
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