Central Bank Of India Stake Sale: The Government of India has initiated the process to divest its stake in Central Bank of India via the offer for sale (OFS) route, notified the Secretary, Department of Investment and Public Asset Management (DIPAM), Ministry of Finance. The government proposes to sell up to 36,20,56,051 equity shares of face value Rs 10 each, representing 4% of the total issued and paid-up equity share capital of the bank. The floor price for the offer has been set at Rs 31 per equity share.
Additionally, the government will exercise a greenshoe option to sell an additional 36,20,56,051 equity shares in the OFS, representing another 4%, in the event of oversubscription. Non-retail investors can subscribe to the OFS as it has opened for subscription on Friday, May 22. Retail investors will be able to subscribe to Central Bank of India OFS from Monday, May 25 onwards.
''Offer for Sale of equity in Central Bank of India opens tomorrow for Non-Retail investors. Retail investors can bid on Monday. Government offers to disinvest 4% equity in the Central Bank of India with an additional 4% as green shoe option,'' said Secretary, DIPAM in a post on 'X' (formerly Twitter) late Thursday night.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.