Central Bank of India has raised Rs 583 crore from Government of India on preferential basis. The Capital Raising Committee of the Board of Directors of the Bank at its meeting held on November 16, 2017 has allotted 5,59,76,956 equity shares of the face value of Rs 10 each to President of India (Government of India) at the issue price of Rs 104.15 per equity share aggregating up to Rs 583 crore arising out of extinguishment of 5830 Innovative Perpetual Debt Instruments of Rs 10 lakh each held by Government of India. With this allotment, shareholding of President of India (Government of India) has increased from 81.38% to 81.91%.
Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.
