Central Bank of India Fixes Record Date for 3:5 Right Issue

by khalid on 09/03/2011 · 2 comments

State owned bank Central Bank of India has informed the share market (BSE/NSE) that the Board of Directors of the bank has fixed 18th March 2011 as Record Date for the purpose of determination of Members who would be entitled to receive the Right Issue Shares. This was decided by the bank at its recently held meeting. Rights issue are offered to the existing shareholders. The bank is going to issue Right Shares at the ratio of 3:5 that is three fully-paid equity shares of Rs 10.00 each for every five existing equity shares of Rs 10.00 each on the Record Date. Mumbai based Central Bank of India (CBI) is a leading bank of the country. The Bank has 3563 branches in India spread over all states/ union territories.

The board of the bank has decided Rs 103 as issue price for every right equity shares. The bank will raise about Rs 2,500 crore from this rights issue. The government holds 80.2% in the Central Bank of India. Hence, it will make a capital infusion of Rs 2,016 crore by subscribing to the rights issue.

Share’s Data :-
BSE Code : 532885
Market Cap : Rs 6,261.53 Crores
Central Bank of India share’s CMP is Rs 154.95 on 9th Mar 2011.

Stay tuned to BelltheBull Blog for more news on Central Bank of India !

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