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Central Bank of India acquires 25.18% equity stake in FGILICL

05 Jun 2025 Evaluate

Central Bank of India has acquired equity stake of 25.18% of Future Generali India Life Insurance Company (FGILICL) pursuant to receipt of Letter of Intent dated August 20, 2024 under Regulation 29 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Bank is venturing into insurance sector. FGILICL is an established player in its industry which is available for acquisition at a reasonable valuation.

Further, the bank has also acquired equity stake of 24.91% of Future Generali India Insurance Company (FGIICL) pursuant to receipt of Letter of Intent dated August 20, 2024 under Regulation 29 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

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

CentralBank of India Share Price

30.24 -0.06 (-0.20%)
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