Public sector lender Central Bank of India has filed papers with the Securities and Exchange Board of India for approval to raise Rs 2,500 crore through a rights issue.
According to SEBI data, the bank filed the prospectus for the issue on January 25.
Last month, the Central Bank of India Executive Director, Mr R.K. Dubey, had said the lender would come out with a Rs 2,500-crore rights issue and is in the process of finalising the date for the launch of the issue, which will hit the market in the January-March quarter.
The Government had approved the rights issue of the lender in June last year. ICICI Securities is the lead manager for the issue.
The Government holds an 80.2 per cent stake in the bank and therefore, it will have to subscribe to an equal percentage in the proposed rights issue to retain its present level of ownership.
The bank shares were trading at Rs 172.15 on the BSE today, up 0.23 per cent over the previous close.