Central Bank of India allots equity shares to LIC

On 05 December 2016

Central Bank of India announced that Capital Raising Committee of the Board of Directors of the Bank at its meeting held on 05 December 2016 has allotted 1,71,44,954 equity shares of the face value of Rs. 10/- each to Life Insurance Corporation of India (LIC) at the issue price of Rs. 91.45 per equity share aggregating to Rs. 156,79,06,043.30 (Rupees One Hundred Fifty Six Crore Seventy Nine Lakh Six Thousand Forty Three and Paisa Thirty Only) subsequent to passing of the Special Resolution by shareholders at Extra-ordinary General Meeting held on 29 November 2016 and the approval of Government of India vide letter dated 01 December 2016.

With this allotment, shareholding of LIC has gone up from 13.05% to 13.83%. Consequently, shareholding of President of India (Government of India) has reduced to 81.28% from 82.02%.

 

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