STOCK MARKET BSE NSE

Central Bank Allots Shares to LIC to Raise Over Rs 626 Crore

Central Bank of India (CBI) has allotted over 8.28 crore shares to LIC on a preferential basis in order to raise about Rs 626 crore.

Published: 02nd January 2015 12:02 AM  |   Last Updated: 02nd January 2015 12:02 AM   |  A+A-

By PTI

NEW DELHI: Central Bank of India (CBI) has allotted over 8.28 crore shares to LIC on a preferential basis in order to raise about Rs 626 crore.

"... Capital Raising Committee of the Board of Directors of the bank has allotted 8,28,90,000 equity shares to Life Insurance Corporation of India," the lender said in a filing to the BSE.

The bank said its Capital Raising Committee, in a meeting held on December 30, 2014, passed special resolution to create, offer, issue and allot shares to LIC at a share price of Rs 75.55 per equity share, aggregating up to Rs 626,23,39,500.

Central Bank of India shares closed 1.09 per cent up at Rs 92.75 apiece on the BSE.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp