Central Bank of India stock drops 6% on government OFS
pre-market1 source ↓written by the desknot a recommendation
- after the government
- 6%
- stake
- 8%
- if fully subscribed
- ₹2,456 cr
Shares of Central Bank of India fell nearly 6% after the government announced an offer for sale (OFS) to divest up to 8% stake at a discounted price of ₹31 per share. The stock hit an intraday low of ₹31.65, making it the worst performer on the Nifty PSU Bank index. The transaction could raise approximately ₹2,456 cr if fully subscribed.
Not investment advice. For informational purposes only.