State-owned Central Bank of India today coverted Rs 1,617 crore worth of non-cumulative preference shares (PNCPS) into equity shares.
As a result of conversion, 15,38,68,113 equity shares were alloted to the government of India against the PNCPS, Central Bank of India said in a statement.
As many as 161,70,00,000 PNCPS were converted into shares, it said. The conversion happened at preferential basis at a conversion price of Rs 105.09 per equity share of face value Rs 10, it added.
With this allotment, shareholding of Government of India increased to 81.46 per cent from 79.56 per cent.
Shares of the bank closed at Rs 103.80 per unit, up 1.07 per cent on the BSE.
