Central Bank Of India To Consider Fundraise Plan For FY26 On April 28
On the same date, the lender's board will also review and approve the release of March quarter results.
The board of Central Bank of India will consider and approve raising capital for fiscal 2025-26 during the meeting to be held on April 28, according to an exchange filing on Wednesday.
The capital raising plan can involve follow-on-public offer, rights issue, qualified institutional placement or preferential issue, or any other mode or combination thereof, the public sector lender said.
The board will also review and approve the release of audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2025.
Additionally, the board in the meeting will also recommend a final dividend on the shares of the bank.
The fresh consideration of fundraise comes after the state-run lender last month launched a QIP to raise up to Rs 1,500 crore.
Earlier, in the quarter ended December 2024, the lender's standalone net profit soared 33.6% to Rs 959 crore compared to Rs 718 crore in the year-ago period. Its net interest income, the difference between interest earned and interest paid, had risen by 12% from Rs 3,152 crore to Rs 3,540 crore.
Shares of Central Bank of India on Wednesday closed 0.73% lower at Rs 38.24 apiece on the NSE, compared to a 0.67% rise in the benchmark Nifty 50. The stock has fallen by 40.06% in the last 12 months and 28.27% on year-to-date basis.
