RBI approves CBoP's Rs 135 cr pref issue

The Reserve Bank of India (RBI) today approved Centurion Bank of Punjab's (CBoP) preferential issue of seven crore shares at a price of Rs 19.25 per share totalling Rs 134.75 crore.

The preferential issue is to be alloted to Johann, a wholly owned subsidiary of Chrys Capital, CBoP said in a statement.

The issue will strengthen the bank's capital position and provide further impetus to its growth, it said.

Recently, the bank had alloted 12.76 crore equity shares at a price of Rs 19.6 to funds managed by India Value Fund Advisors and Citigroup Venture Capital International Growth Partnership Mauritius.