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Central Bank to raise Rs 157 cr by issuing shares to LIC

Press Trust of India  |  New Delhi 

of will raise over Rs 156 crore by issuing on preferential basis to state-owned insurer LIC.

The public sector lender will create, offer, issue and allot up to 1,71,44,954 equity of to Corporation of for aggregating up to Rs 156.79 crore, Central said in a regulatory filing.

The said the said equity to be issued to LIC will be subject to lock-in requirements and shall be entitled to dividend declared.

Stock of the bank closed 2.15 per cent up at Rs 83 on

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, November 29 2016. 19:42 IST