Central Bank of India to raise Rs 3,000 cr

Central Bank of India today said it will raise up to Rs 3,000 crore by various means, including follow on public offer and rights issue.
At the bank's annual general meeting held today, it sought shareholders' approval to raise the capital, it said in a regulatory filing.
Meeting of the shareholders, which was held today, discussed, approved and adopted "to create, offer, issue and allot by way of an offer, in India or abroad, such number of equity shares up to the value of Rs 3,000 crore," it added.
The state-owned bank said it may raise the capital in one or more tranches.

The issue would be by way of follow on public offer, and/or rights issue and/or private placement, including qualified institutions placements with or without over-allotment, it added.
Other details about the capital raising plan were not given.
Central Bank of India stock today closed 0.05 per cent up at Rs 107.20 on BSE.