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Central Bank of India launched its fund-raising exercise on Tuesday through a qualified institutional placement. The floor price has been set at ₹16.18 per equity share for the QIP.
“…the capital-raising committee of the bank has, at its meeting held on September 22, passed the following resolutions – approved and adopted the preliminary placement document …, approved the opening of the QIP on September 22, 2020; and approved the floor price of ₹16.18 per equity share for the QIP,” it said in a regulatory filing.
The capital-raising committee of its board will meet again on September 25 to consider and determine the issue price for the equity shares to be allotted to qualified institutional buyers, it further said.
On Tuesday, the bank’s scrip closed 14.29 per cent higher at ₹17.20 apiece on the BSE.
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