Centurion Bk of Punjab sells 4cr shares

Centurion Bank of Punjab today sold four crore shares at Rs 24.5 per share aggregating Rs 98 crore, which it will utilise to make provisions for bad assets.

According to an official release issued by the bank today, the shares held by Centurion Bank Stock Trust was sold on the BSE through Ambit Capital.

"The proceeds from the sale would be used by the bank primarily for purposes of prudential provisioning on its asset book so as to further strengthen its balance sheet," the release added.