Mumbai, Mar 26: Central Bank of India’s board has approved the opening of the issue of qualified institutional placement (QIP) of equity shares with a floor price of Rs 42.62 per share, the bank said on Monday.
The issue opened on March 24, 2025, at a discount of 9.03% to the scrip’s previous closing price of Rs 46.85 on the BSE. The bank may offer a discount of up to 5% on the floor price, with the final issue price to be determined in consultation with the book-running lead manager, it said.
Central Bank of India provides banking and financial services to individuals, businesses, large corporates, public bodies, and institutional clients. The bank’s standalone net profit rose 33.58% to Rs 958.93 crore in Q3 FY25 from Rs 717.86 crore in Q3 FY24, while total income grew 6.56% to Rs 9,738.64 crore.
Shares of Central Bank of India fell 2.45% to Rs 45.70 on the BSE following the announcement.
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