Central Bank of India Closed Its QIP At Rs. 255 Cr

 

Central Bank of India Closed Its QIP At Rs. 255 Cr and Set IPO Price At Rs. 15.38:

To begin with, the Central Bank of India is the first commercial bank in India. the bank was established in 1911 and headquarters located at Mumbai. On 25th September, the Central Bank of India closed its Rs. 255 Cr QIP. Also, the company fixed its IPO price at Rs. 15.38 per equity share.

Whereas, the bank arranged the capital raising committee meeting on Friday. The committee permitted the closure period for qualified institutional placement. Also, the committee has fixed and approved an issue price of Rs. 15.38 per equity share.

The bank announced a discount of 4.94% due to that the floor price declined to Rs. 16.18 per equity share. Previously, the bank annual general meeting was held on 7th August 2020 in that the bank decided to raise Rs. 5,000 Cr through FPO. 

Central Bank of India shares traded with a gain of 0.45 points reached 16.15 INR with 2.71% up. Its shares previously closed at 16.60 INR. The company shares traded on the National Stock Exchange.

Stock Market Update:

Stock Market September 25th: On Friday, both Sensex and Nifty seem to trade in a bullish trend in the stock market. The Sensex stood traded gain with 37,388.66 levels and Nifty stood traded gain with 11,050.25 levels. The Sensex raised 835.06 points with a 2.28% gain. Besides, Nifty has raised 244.70 points with a 2.26% gain.

On the other hand, the number of confirmed or coronavirus cases in India reached 59,08,748 as of September 26th, and deaths reached 93,440.

In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market yesterday. It raised 403.47 points with a 2.90% gain and reached a 14,336.68 level. The S&P BSE Smallcap index raised 327.30 points with a 2.31% gain and reached a 14,495.58 level. However, the Nifty Bank raised 525.50 points with a 2.57% gain and reached a 20,982.35 level.