The state-run bank launched its qualified institutional placement (QIP) of shares on Tuesday (22 September 2020).
The floor price has been set at 16.18 per equity share for the QIP, which is a 5.93% discount to Tuesday's closing price.
The capital-raising committee of its board will meet again on 25 September to consider and determine the issue price for the equity shares to be allotted to qualified institutional buyers. The bank may at its discretion offer a discount of not more than 5% on the floor price so calculated for the QIP.
Central Bank of India's net profit rose 14.5% to Rs 135.43 crore on a 3.6% increase in total income to Rs 6,726.68 crore in Q1 June 2020 over Q1 June 2019.
Shares of Central Bank of India declined 2.91% to Rs 16.70 on BSE. Central Bank of India, a public sector banking institution has their branches in 27 states and 4 union territories in India. As of 30 June 2020, the Government of India held 92.39% stake in the bank.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app