Central Bank rights issue to hit markets in this quarter
The govt holds 80.2% stake in the bank and therefore it will have to subscribe an equal percentage in the proposed rights issue to retain level of ownership.
By PTI |
NEW DELHI: Public sector lender Central Bank of India on Wednesday said its rights issue to raise Rs 2,500 crore would hit the markets in this quarter.
"We got approval to rights issue of Rs 2,500 crore from Sebi and RBI. We are in the process of finalising the date and the issue will hit the market in January-March quarter," Central Bank of India Executive Director R K Dubey told reporters on the sidelines of Skoch summit here.
The government has already approved rights issue for the lender in June last year.
The government holds 80.2 per cent stake in the bank and therefore it will have to subscribe an equal percentage in the proposed rights issue to retain the present level of ownership.
Central Bank of India share closed down 2.86 per cent to Rs 171.50 on BSE.
"We got approval to rights issue of Rs 2,500 crore from Sebi and RBI. We are in the process of finalising the date and the issue will hit the market in January-March quarter," Central Bank of India Executive Director R K Dubey told reporters on the sidelines of Skoch summit here.
The government has already approved rights issue for the lender in June last year.
The government holds 80.2 per cent stake in the bank and therefore it will have to subscribe an equal percentage in the proposed rights issue to retain the present level of ownership.
Central Bank of India share closed down 2.86 per cent to Rs 171.50 on BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Arunachal govt sets up 4 panels on infiltration, indigenous rights issuesADVERTISEMENT
