Central Bank of India will raise up to Rs 6,500 crore this fiscal through various means, including preferential issue or follow on public offer.
The board of directors at a meeting held today approved the proposal pending approval from shareholders to raise the equity capital of up to Rs 6,500 crore during 2017-18, Central Bank of India said in a regulatory filing.
The public-sector lender said the money can be raised through various modes such as preferential issue, qualified institutional placement, rights issue, follow on public offer.
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Stock of Central Bank of India closed 4 per cent down at Rs 109.20 on BSE.