Central Bank to raise Rs 200 crore via employee stock purchase plan


Central Bank to raise Rs 200 crore via employee stock purchase plan



NEW DELHI: State-claimed Central Bank of IndiaNSE - 0.55 % Friday said it will raise about Rs 200 crore by issuing shares to staff under the employee stock buy scheme.

The directorate of the bank at their gathering hung on December 28, 2018 affirmed the proposition to raise capital by issuance of offers to representatives through Employee Stock Purchase Scheme (ESPS) to the extent of approximately Rs 200 crore, the moneylender said in an administrative documenting.

The Committee of Directors will choose every single agent step, including assembling of additional normal general meeting of investors to pass the goals and assurance of valuing approach and rebate, Central Bank said.

A week ago, Syndicate Bank had informed about raising up to Rs 500 crore by issuing 30 crore shares to its staff under the representative stock purchase scheme.

Punjab National BankNSE 0.64 % said it has prepared Rs 500 crore through ESPS.

The administration in March 2017, had permitted open area banks to offer investment opportunities to their workers, went for holding experienced hands and better motivators other than a methods for raising capital.

Various open segment banks, including Allahabad Bank, Union Bank, United Bank of India and Canara Bank, have profited the new plan to raise assets by issuing offers to their staff.

Offers of Central Bank of India shut 0.96 percent down at Rs 36.05 each on BSE.


“Commodities derivatives are trading for long hours in Indian exchanges, including stock exchanges. The risk management framework, therefore, has been found to be adequate for over 15 years,” BSE said in the emailed statement.

Read More : WealthResearch 






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