RBI approves Centurion Bank's preferential shares

New Delhi, Mar 9: The Reserve Bank of India (RBI) today approved Centurion Bank of Punjab's preferential issue of 12.9 crore equity shares at Rs 19.25 each, to Citigroup Venture Capital International Growth Partnership Mauritius Ltd. and India Value Fund.

Seven crore equity shares at a price of Rs 19.25 will be allotted to India Value Fund, managed by India Value Fund Advisors Private Ltd, formerly GW Capital Private Ltd, while 5.90 crore equity shares at a price of Rs 19.25 each will be alloted to Citigroup Venture Capital International Growth Partnership Mauritius Ltd.

The Centurion Bank of Punjab, a merger between Centurion Bank and Bank of Punjab, approved by the RBI recently, offers a wide spectrum of retail and corporate banking products and services.

UNI