Central Bank of India gets shareholder nod to allot Rs 4,800-cr preference shares to government
Central Bank of India gets shareholder nod to allot Rs 4,800-cr preference shares to government

Central Bank of India on Tuesday said its shareholders have approved allotment of preference shares to the government for a Rs 4,800-crore capital infusion.

At the virtual extraordinary general meeting (EGM), the state-owned bank's Chairman Tapan Ray said the preference share allotment to the government has been worked out at Rs 17.11 per share.

The consent of the shareholders was given with over 97 per cent votes in favour of the resolution to issue and allot up to 2,80,53,76,972 equity shares to government on a preferential basis aggregating up to Rs 4,800 crore, the bank said.

Shares of the bank closed 0.56 per cent down at Rs 17.90 apiece on the BSE.

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