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| Centurion Bank of Punjab receives RBI approval for the preferential issue of | | | Mumbai, January 05
Centurion Bank of Punjab today received the
approval from the Reserve Bank of India (RBI) for the preferential issue of
equity shares to India Advantage Value Fund V, a fund managed by ICICI
Venture Funds Management Company Ltd. The Bank proposes to allot upto 7.5
crore equity shares at a price of Rs. 24.54 per equity share. The issue
price has been computed as per the relevant pricing guidelines prescribed by
the Securities and Exchange Board of India.
The issue was approved by the shareholders of the Bank at their
Extraordinary General Meeting held on September 30, 2006.
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