Central Bank of India OFS opens for subscription

The government's 4 per cent stake sale in the Central Bank of India at Rs 31 per share opened for subscription by institutional investors on Friday.

The Offer For Sale (OFS) of Central Bank of India also has a greenshoe option for selling an additional 4 per cent stake. Retail investors will be able to bid in the share sale offer on Monday.

The floor price of Rs 31 a share is 8.58 per cent lower than the stock's Thursday's closing price of Rs 33.91 on the BSE.

Shares of Central Bank of India were trading at Rs 32.06 on BSE, down 5.46 per cent over Thursday's close.

By selling a 8 per cent stake in the PSU bank, the government will raise Rs 2,456 crore.

The OFS will help the government inch towards meeting the Securities and Exchange Board of India's minimum public shareholding norm.

According to SEBI, all listed companies must maintain public shareholding of 25 per cent.

The government currently holds 89.27 per cent stake. If the government exercises the greenshoe option, its total stake in the state-owned bank will come down to 81.27 per cent.

In the 2025-26 fiscal, the government had raised Rs 2,624 crore through OFS of the Bank of Maharashtra and Rs 1,419 crore from Indian Overseas Bank.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)