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Central Bank of India to raise Rs 3000 cr

Central Bank of IndiaCentral Bank of India is looking to raise Rs 3000 crore from the public, including the rights issue, subject to shareholders’ approval. According to a notice from the bank, it will seek approval from shareholders for issuing shares for an aggregate amount not exceeding Rs 3000 crore by way of public issue — follow on public offer, rights issues or private placement including qualified institutional placements with or without over allotment. The fund would be raised to an extent that government holding will not fall below 51% of the total capital, bank said.

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