Central Bank of India shares are likely to remain in focus on Friday after the Government of India launched an Offer for Sale (OFS) to divest stake in the public sector lender.
According to the OFS document, the government will initially sell up to 36.2 crore equity shares, representing 4% stake in the bank, with an option to additionally sell another 4% in case of oversubscription. The floor price for the OFS has been fixed at ₹31 per share.
The OFS will open for non-retail investors on May 22, while retail investors and eligible employees can participate on May 25. Goldman Sachs (India) Securities Pvt Ltd has been appointed as the broker for the transaction.
Disclaimer: This article is based on exchange filings and publicly available information. Investors are advised to consult certified financial advisors before making investment decisions.