Centurion Bank receives RBI approval for issue of shares

New Delhi, June 3: Centurion Bank of Punjab today received the approval from the Reserve Bank of India (RBI) for the preferential issue of equity shares to Johann Ltd, a wholly owned subsidiary of Chrys Capital III LLC.

The bank proposes to allot upto 7 crore equity shares at a price of Rs 19.25 per equity share.

The bank had allotted 12.76 crore equity shares at a price of Rs 19.25 per equity share on March 21, 2006, to funds managed by India Value Fund Advisors Private Ltd, and Citigroup Venture Capital International Growth Partnership Mauritius Ltd as per the approval from the RBI received earlier.

Centurion Bank of Punjab operates on a strong nationwide franchise of 243 branches, 391 ATMs in 123 locations and is supported by over 4,700 employees.

UNI