Central Bank of India launches QIP issue

Central Bank of India informed that its board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with the floor price of Rs 42.62 per equity share.

The board of directors of the bank authorized and declared the opening of the issue on Monday, 24 March 2025.

The floor price of Rs 42.62 is at a discount of 9.03% to the scrips previous closing price of Rs 46.85 on the BSE.

The bank may offer a discount of not more than 5% on the floor price so calculated for the issue. The issue price will be determined by the bank in consultation with the book-running lead manager appointed for the issue.

Central Bank of India is engaged in providing banking and financial services, offering a wide range of products and services to individuals, commercial enterprises, large corporates, public bodies, and institutional customers.

The banks standalone net profit jumped 33.58% to Rs 958.93 crore in Q3 FY25 as compared with Rs 717.86 crore in Q3 FY24. Total income increased 6.56% to Rs 9,738.64 crore in Q3 FY25 as compared with Rs 9,138.93 crore

Shares of Central Bank of India declined 2.45% to Rs 45.70 on the BSE.

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