Central Bank plans Rs2500 crore rights issue this fiscal

Public Sector Central Bank of India said on Monday that it will come out with a rights issue to raise around Rs 2500 crore in this financial year. The funds will be issued for normal operations said the bank's CMD, Mr.S.Sridhar while attending a conference on " Finance and Investment" organised by CII. He further said that the bank is assessing the market and is taking all the necessary steps. The bank is yet to approach the SEBI. It will be filing its Red Herring Prospectus shortly. The bank has already appointed the merchant bankers for the rights issue.(BL 28092010)