Centurion bank to raise Rs 500 cr through QIP

Mumbai, Aug 3 (UNI) Centurion bank of Punjab will raise Rs 500 crore through Qualified Institutional Placements (QIP).

In a communique to bourses, bank said its shareholders have extended approval for the capital raising rogramme at its Annual General Meeting (AGM) held today.

The AGM also approved the Employees Stock Option Plan (ESOP) to issue upto 10 crore additional stock options to the employees of the bank.

The additional capital raised is expected to be utilised for the corporate expansion plans of the bank.

UNI