The government will offload up to 8 per cent stake in Central Bank of India through an offer for sale (OFS) starting Friday, Disinvestment Secretary Arunish Chawla said late Thursday in a post on X.
The OFS will open for bids from non-retail investors on Friday, while retail investors can bid on Monday.
“Government offers to disinvest 4 per cent equity in the Central Bank of India with an additional 4 per cent as green shoe option,” Chawla said in the post.
The government currently holds 89.27 per cent stake in the bank. The OFS transaction, if the green shoe option is exercised, may fetch the government around ₹2,455 crore, based on the closing price of the bank’s stock on Thursday.
Source: Business-Standard