Central Bank of India to raise up to Rs 1,500 cr via bonds this fiscal


State-owned will raise up to Rs 1,500 crore this fiscal by issuing Basel III compliant .

The decision was taken at the bank’s board meeting held on Monday.

The board of directors considered and approved to raise capital through an issuance of non-convertible redeemable unsecured Basel III compliant tier II for amount up to Rs 1,500 crore, the bank said in a regulatory filing.

The base issue size is of Rs 500 crore with a green shoe option up to Rs 1,000 crore.

Under the Basel-III capital regulations, globally need to improve and strengthen their capital planning processes.

Shares of settled 4.93 per cent up at Rs 30.85 apiece on BSE.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


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