Central Bank of India to raise Rs 5,000 crore tier-I capital in FY16

MoneyState-owned Central Bank of India will raise Rs.5,000-crore tier-I capital during 2015-16 by way of various modes, the bank informed BSE.

“Capital Raising Committee of the Board of Directors of the Bank at its meeting held on June 04, 2015, inter alia, has approved the proposal to raise Tier-I capital up to Rs.5,000 crore in one or more tranches during Financial year 2015-16,” it said in a BSE filing.

Capital will be raised through various modes such as qualified institutional placement (QIP), rights issue, follow-on public offer, private placement, preferential issue subject to approval of government and Reserve Bank of India (RBI).

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