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Central Bank to list today; Expected to list around Rs 140

Tuesday, August 21, 2007

Central Bank to list today; Expected to list around Rs 140

After overwhelming response to its initial public offering, public sector institution, Central Bank of India will list on the bourses today. The stock will also start trading in F&O market with a lot size of 2000 shares.
Analysts expect that the stock is likely to list above Rs 135 and advised to book profits above Rs 140.

The company had come out with an initial public offering of 80,000,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book building process. The offer price has been fixed at Rs 102 per share.

The issue proceeds will be utilized to augment the capital base of the bank to meet the future capital requirements arising out of the implementation of the Basel II standards and the growth in assets, primarily the loan and investment portfolio due to the growth of the Indian economy and for other general corporate purposes.

Posted by FR at 9:24 AM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.