Central Bank of India announces closure of QIP issue on 25 Sep

Issue price fixed at Rs 15.38 per share

The Capital Raising Committee of the Board of Central Bank of India at its meeting held on 25 September 2020 passed the following resolutions -

(i) approved the closure of the issue period for QIP on 25 September 2020;

(ii) determined and approved the Issue Price of Rs 15.38 per Equity Share (including a premium of I 5.38 to the face value of Rs 10 per Equity Share), which is at a discount of 4.94% (i.e. = 0.80 per Equity Share), to the Floor Price of Rs 16.18 per Equity Share determined, as per the formula prescribed under Regulations 176(1) of the SEBI Regulations for an aggregate value of Rs 254.99 crore to be allotted to eligible qualified institutional buyers in the QIP;

(iii) approved and adopted the placement document dated September 25, 2020, in connection with the QIP (the "placement Document"); and

(iv) approved the Confirmation of Allocation Note to be sent to the qualified institutional buyers, intimating them of allocation of Equity Shares pursuant to the QIP.

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