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
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU