Central Bank to raise Rs 3,000 cr from public offer

Government owned Central Bank of India on June 8 said it proposes to raise up to Rs 3,000 crore from the public, including the rights issue.

The bank will seek shareholders nod for this at Annual General Meeting (AGM) to be held on June 30.

It will seek approval for issuing shares for an aggregate amount not exceeding Rs 3,000 crore by way of public issue -- follow on public offer, rights issues or private placement including Qualified Institutional Placements with or without over allotment, Central Bank of India said in AGM notice.

The fund would be raised to an extent that government holding not fall below 51 percent of the total capital, it said.