Central Bank of India closed at Rs 115.40 on BSE, a premium of 13.13% over the IPO price of Rs 102. The stock debuted at Rs 130.10 at a premium of 27.54% over the IPO price of Rs 102. The share price touched a high of Rs 133.25 and a low of Rs 114.

On BSE, 2.43 crore shares were traded in the counter.

Central Bank of India had priced its initial public offer (IPO) at Rs 102, at the top end of the Rs 85 to Rs 102 price band.

The current price of Rs 115.40 discounts its FY 2007 EPS of Rs 12.30 on post-IPO equity of Rs 404.14 crore by a PE multiple of 9.38.

Central Bank of India (CBI) IPO had ended on 27 July 2007 with 62.07 times subscription. The qualified institutional buyers (QIBs) category was subscribed 89.11 times, the non-institutional investors category 69.56 times, the retail investors category 92.35 times and the employees category 0.95 times.

Post issue, the shareholding of the Union government in the bank has come down to 80.20%.

CBI has pan-India presence with branches in 27 states and three Union Territories. At year ended March 2007, the bank had 3,194 branches, the third largest network of branches in India.

CBI reported net profit of Rs 498.01 crore on net total income of Rs 2950.07 crore in the year ended 31 March 2007 (FY 2007). Profit for FY 2007 includes recovery/write back of provisions of Rs 163.33 crore. However, a repeat of such recovery every year seems difficult.