Central Bank of India to raise Rs 5K cr tier-I capital in FY16

State-owned Central Bank of India will raise Rs 5,000-crore tier-I capital this fiscal by way of various modes such as QIP, rights, issue and follow-on public offer.
"...Has informed BSE that Capital Raising Committee of the Board of Directors of the Bank at its meeting held on June 04, 2015, inter alia, has approved the proposal to raise Tier-I capital up to Rs 5,000 crore in one or more tranches during Financial year 2015-16," it said in a BSE filing.
It said the capital will be raised through various modes such as Qualified Institutional Placement (QIP), rights issue, Follow-on Public Offer (FPO), private placement, preferential issue subject to approval of Government and RBI, it said.

In January last fiscal, Central Bank of India had said that the lender was in process of raising Rs 660 crore through conversion of perpetual non-cumulative preference shares held by the government into equity shares.
"We are converting our PNCPS into equity which will help us raise around Rs 660 crore," bank's Executive Director R K Goyal had said.
Bank scrips closed at Rs 100.85 apiece on the BSE today, up 1.05 per cent from previous close.