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Central Bank of India planning to raise Rs 5,000 crore in FY20

10 Jun 2019 Evaluate

Central Bank of India is planning to raise up to Rs 5,000 crore in the current fiscal (FY20) through various means, including rights issue and FPO, to meet Basel III norms by March 2020.

The bank will raise capital through follow on public offer, rights issue or qualified institutional placement (QIP) and will seek permission from shareholders in the ensuing annual general meeting to be held on June 28, 2019.

Central Bank of India is a commercial bank. The bank’s segments include Treasury Operations, Corporate/Wholesale Banking, Retail Banking and other Banking business.

Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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