Central Bank of India on Monday said that it would raise additional equity capital by allotment of up to 8.29 crore equity shares of the face value of Rs.10 each at an issue price of Rs.75.55 per equity share aggregating Rs.626.23 crore to Life Insurance Corporation of India (LIC).
In a regulatory filing to the stock exchanges the bank said that the Capital Raising Committee of the Board of Directors of the Bank considered and approved raising of additional equity capital by issuance and allotment of, up to 8.29 crore equity shares of the face value of Rs.10 each at the issue price of Rs.75.55 per equity share determined as per SEBI (ICDR) Regulations.
The bank added that “Capital Raising Committee of the Board of Directors also decided to hold an Extraordinary General Meeting of shareholders on December 30 to consider and pass the necessary special resolution.”
