Central Bank to raise Rs 3,000 crores from public offer

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New Delhi | Published: June 8, 2016 9:50:18 PM

The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30.

Government owned Central Bank of India today said it proposes to raise up to Rs 3,000 crore from the public, including the rights issue.

The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30.

It will seek approval for issuing shares for an aggregate amount not exceeding Rs 3,000 crore by way of public issue
follow on public offer, rights issues or private placement including Qualified Institutional Placements with or without over allotment, Central Bank of India said in AGM notice.

The fund would be raised to an extent that government holding not fall below 51 per cent of the total capital, it said.

The government infused Rs 535 crore in the bank through preferential allotment of shares during last fiscal.

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